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When you first register for the service, you are given the option to either create a new phone number or use your existing cell number. There are differences between a Google-number and a non-Google-number. See http://www.google.com/support/voice/bin/answer.py?answer=164819 for the different features and available services.
One of the kewl features offered is transcription, once a voice mail has been saved, Google will transcribe the message to text and you can have that message automatically sent to you via SMS or e-mail. There are features like International Calling (and rates) and Google automatically gives you $0.10 to your account to make such calls. The rates start as low as $0.02 per minute.
Check out http://www.google.com/voice.


