Just read a very nice post by Aaron at SEO Chat about the effects the features of the new Google Toolbar might have on the search industry, especially on pay-per-click advertisers. To sum up the interesting points:
The Google Toolbar might increase the cost per click for popular terms because new toolbar features point searchers to more general terms and correct their spelling mistakes. At the same time customization options in the toolbar can help users decide which sites are important and customize their search results accordingly. So if I am interested in the Search Engine Watch website and I visit it a lot, I can add custom bookmarks to different parts of the site like the Blog, Forum, etc., and have them appear every time SEW shows up in any of my search results.