My colleague Ricky Erway has distilled material relevant to libraries from the proposed Google agreement with the APA and Authors' Guild.
Now I'm not a lawyer (and I've had that confirmed by our folks in legal) and not even a little lawyer-like, but I read the settlement agreement, most of the appendices (I mean, really, at some point do even the lawyers say, I am not going to read that one!?), and the three library-registry agreements and I tried to note the bits that matter to libraries. (That's boiling down about 320 pages into a 4 1/2 page summary, so I've left out a bit of detail.) [HangingTogether - The Google Book Settlement - what does it mean for the rest of us?]
The above blog entry provides some context. The distillation is here [pdf], and readers may also be interested in our Public/Private Mass Digitization Agreements resource list.