As we mention here months ago, Google is launching a free email program called “Gmail.”

Amidst rampant media speculation, Google Inc. today announced it is testing a preview release of Gmail a free search-based webmail service with a storage capacity of up to eight billion bits of information, the equivalent of 500,000 pages of email. Per user.

The inspiration for Gmail came from a Google user complaining about the poor quality of existing email services, recalled Larry Page, Google co-founder and president, Products. “She kvetched about spending all her time filing messages or trying to find them,” Page said. “And when she’s not doing that, she has to delete email like crazy to stay under the obligatory four megabyte limit. So she asked, Can’t you people fix this?’”

The idea that there could be a better way to handle email caught the attention of a Google engineer who thought it might be a good “20 percent time” project. (Google requires engineers to spend a day a week on projects that interest them, unrelated to their day jobs). Millions of M&Ms later, Gmail was born.