Okay, found this news article that explains a little further:
http://searchenginewatch.com/searchd...le.php/3617061
So it looks like G won't be doing adult, especially when they don't accept adult stuff in their video section or adwords.
I guess they will also link their Froogle and G Base to their payment system, but I'll bet they won't connect adult products.
It's going to be called Google CheckOut not GBuy.