Julie comments "Changes to the Terms and Conditions fall into two broad categories:
1) future products and features and
2) privacy requirements. Specifically, one of the main changes is that the terms anticipate future products that may become available in other advertising formats and mediums, for example Gadget Ads.
As Google forward to monetizing more online and offline content, we've re-worded some portions of the terms to make them applicable across a broader array of media and formats -- anticipating, for example, that future products may be priced, paid, or managed differently than current ones.
The changes aren't limited to the areas above, however; we've made small changes throughout, so it's a good idea for you to review them thoroughly before accepting."