Rumors are flying that Google will be releasing a Twitter search engine.
This is probably the nearest thing we have seen so far.
https://www.google.com/coop/cse?cx=004053080137224009376%3Aicdh3tsqkzy
https://www.google.com/transconsole/
As we all know, Google has created one of the best search engines. Applying this knowledge to searching the mass amounts of twittering that takes place will be an interesting task.
Google understands the value of twitter as well as other micro-bloging services as they develop.