I first found this at Alan Webb's forum. It is basically a word for word dialog between Daniel Dulitz, a Google engineer and UK's Mike Grehan.

I am not sure of how recent it is, so if someone knows - please add a comment.

Mike Grehan and Daniel Dulitz discuss the following topics in this phone interview:

• Daniel Dulitz Background and how he joined Google
  
• The importance of PageRank and what it really means
  
• Google's ability to crawl dynamic content and what GoogleBot likes and dislikes in relation to that
  
• Flash and other Multimedia Content in relation to GoogleBot and Google's visitors
  
• Paid Inclusion Possibilities at Google
  
• What Google considers Cloaking
  
• Keyword "themes" in relation to SEO
  
• What Can get you banned from Google (not much)
  
• Automated Querying of Google Server - A No No
  
• Search Engine Industry dynamics and what it means to Google
  
• And Yahoo!'s relationship with Google (Past, Present and Future)
  

I like this quote ""Utility" and "depth" really should be measured by a site's users."

Here is a link to the interview.

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