There's tons of rumors about Google's line of Nexus products right now, I'm going to state a couple of the bigger ones.
This isn't much of a rumor, it's actually been confirmed. This is a 10-inch tablet, a bigger version of the Nexus 7 which sold like crazy. This tablet is meant to take on the iPad directly. It's specs certainly do beat the iPad, but the iPad's so popular that a lot of people just buy it without researching other large tablets. Who knows, though, maybe the Nexus 10 will do some major damage to the iPad, just like the Nexus 7 did to the Kindle Fire. The current known specs are that it will have a 2,560 x 1,600 pixel screen, which is a PPI of around 299, which is much larger than the iPad's 264 PPI.
LG Nexus Phone
LG will be making Google's newest Nexus phone. This one isn't a rumor, either, it's also confirmed. It will be released on October 29th, if all goes as planned, and it will come running Android 4.1.2, the newest version of Jelly Bean. It will also feature a 1.5GHz quad-core Qualcomm Snapdragon CPU, 1280 x 768 4.7-inch screen, 2GB of RAM, and just 8GB of storage.
Back to the tablets, Google's really trying hard to work on them as it appears. There's lots of rumors about the Nexus 7, but I'll just name four of them. One rumor is that they're working on a new $200 Nexus 7. I dunno' if it's true or not, but that's what I've heard. Another
rumor EDIT: This rumor has been confirmed! they're also working on a $99 USD version of the tablet. It won't be as good as the $200 one, but it's cheap, so it'll probably sell. The other two rumors are pretty well confirmed, so I wouldn't doubt that they'll happen. The first is that they'll be releasing a 3G version of the tablet soon. This is a pretty old story, which first popped up over a month ago, and it was scheduled for release in mid-October. So, it will probably be released soon if they're still going to do it. The other rumor that's most likely true is a 32GB version of the Nexus 7. There's many stories confirming this, and it's expected to cost around $269. Just Google it if you want to know more about it. :)