The EFF has started a new service TOSBack at http://tosback.org to track changes in the terms of service of select sites. It also tracks other terms, policies, and agreements. Some of the google services that are tracked include gmail, blogger, youtube, doubleclick, and google ads.

eff press release: http://www.eff.org/press/archives/2009/06/03-0
c-net coverage: http://news.cnet.com/8301-1023_3-10257818-93.html

Am i the only one really happy about this?

Nope, I'm very happy! It'll be great to be able to analyse little changes as they happen... they don't seem to be tracking iTunes however, and iTunes TOS updates are frequent enough...