I just got an email from Google Earth Outreach about the release of Google Earth 5. As speculated over and over, and discussed here just over a year ago, it includes the new bathymetry layer, and it now has ocean depths. You can grab the update from the Google Earth website.

February 2, 2009 at 3:34 pm |
And I want to be the first third-party developer to announce we’re already shipping support for authoring Google Earth 5 Guided tours in our Visual Nature Studio/Scene Express tools.
http://3dnature.com/vns3fotw-ge5.html