Google trumps Sourceforge by releasing Google Hosting.

It’s Open-Source project hosting, with what seems like very advanced issue tracking. Fast, easy to understand, simple.

There are already some projects up, like Rails App Installer and Biometric API for Linux.

I assume all/many of the Google Summer of Code projects will end up hosted here. Also, I could see Google providing something like a Krugle source-code search for finding specific files and code snippets. Then why not go ahead and toss in a Code Snippets where anyone could highlight/mark source code as useful, and pulled out for others to then see these snippets easily.

Google Hosting FAQ