I'm sure many people wondered if Google will release a presentation tool, after building Google Docs&Spreadsheets. Well, the answer is yes, and the code-name of the tool is Presently (a play on Writely, the name of the online word processor bought by Google).
You will be able to convert a document into a presentation, create slides and view the presentation in full-screen. Here are some messages from a Google file [update: Google removed the messages, so here's a screenshot], that will be used by Presently:
var MSG_DOC_TO_PRESENTATION="Convert document to presentation";