I've posted before about the Google Books Settlement (and my reasons for opting out). For those who find the legal settlement and the decision complicated – pretty much anybody – Gillian Spraggs, whom I cited before, has done an excellent update.
Whatever your inclination, if you've written a book covered by the settlement, I highly recommend reading this article. The key date is 28 January 2010, for opting out of the settment, with a final fairness hearing 3 weeks later. Dr Spraggs has done a public service in working to understand what the deal means and to explain it so clearly. The full 367 page settlement is online too, for reference.