(UPDATE: Note comments from Google's Matt Cutts, which came in after I posted. It appears none of this is new but it is certainly worth watching and perhaps more noticeable to me than it was before.)
Google has quietly started posting a small time stamp next to news stories and blog posts that have been recently added to their main index. In the screen grab below note how one such search lists the hours that have transpired since my recent blog post and Robert Scoble's were first indexed. The same holds for news-related searches too, as you can see here.
As of right now you can't sort Google results by time. From the
advanced search page, however, you can limit results just to those that have been indexed in the last 24-hours. You can't get more granular - at least yet. Date-filtered advanced queries are not a new feature but I believe the time stamps are.
As Louis Gray notes, the real-time web is going to be a critical trend to watch this year. As more content is generated from social networks, Google is going to feel heat from Friendfeed, Twitter and Facebook as they beef up their algorithms. Already, lots of people go to
search.twitter.com to search for breaking news just as we did first when Google News launched a few years ago.