Ok, this has been a long time coming, I’ve been using google voice since the grandcentral change, and everything i love about grandcentral had been moved over, and improved greatly!! The features of google voice are:
Call screening – Announce and screen callers
Listen in – Listen before taking a call
Block calls – Keep unwanted callers at bay
SMS – Send, receive, and store SMS
Place calls – Call US numbers for free
Taking calls – Answer on any of your phones
Phone routing – Phones ring based on who calls
Forwarding phones – Add phones and decide which ring
Voicemail transcripts – Read what your voicemail says
Listen to voicemail – Check online or from your phone
Notifications – Receive voicemails via email or SMS
Personalize greeting – Vary greetings by caller
Share voicemail – Forward or download voicemails
Conference calling – Join people into a single call
Call record – Record calls and store them online
Call switch – Switch phones during a call
Mobile site – View your inbox from your mobile
GOOG-411 – Check directory assistance
Manage groups – Set preferences by group
and each one of them is displayed so masterfully that i have begun using my Google voice # more than my regular phone number (The Google Voice app for Android has helped ALOT there!). One of the best features, and strangely unmentioned in Googles feature list is the Contacts! they do such an wonderful job of managing contacts, contact lists, and contact groups that its impossible to go back to any other management system! Ive used it to setup one voicemail message for family members and another for business contacts. seems like a useless feature but is totally awesome! Its voicemail system is also ZomgsWTFlol Amazing! If I’m in a meeting and forced to ignore a call that i needed to take, the transcript of the voicemail will be text messaged to me shortly after the message is left! Text messaging, as well as placing calls can all be done though the web interface, so it has the potential to save you alot of money on text messages. and a whole lot more money if you put your google voice number in your Fav5 (then all you calls can be free 
). There are just so many small things that when put together make an amazing product!
Oh and the Google voice app for the android OS makes it Amazingly easy to route all your calls and text messages though the Google Voice system! The GV app also has surprisingly good contact management, and a few other spiffy features, but its main use is routing calls though google voice. If you have a Voice account, and a G1 but havnt installed GV yet now is your chance!
Update: Download Google’s GV app instead
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