For those concerned about voicemail transcriptions I think they already know it's not going to be great to start off with. It also says you can
choose to have the transcriptions.
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1. Transcriptions: Now, in addition to being able to listen to your voicemail messages, you can choose to have your new voicemails automatically transcribed. You'll see these transcriptions in your inbox and will be able to search for voicemails. Transcriptions are also included in email and SMS notifications. They are fully automated, so they aren't perfect, but we'll be working to improve this in the future.
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This is the one I'm excited about and hoping it works! I am curious to see if when you reply it uses your GC phone number or the number from the cell phone you replied from...
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2. SMS support: When somebody sends an SMS to your Google Voice number, that SMS will be relayed to each of your forwarding cell phones and stored in your inbox. You can reply from your computer or from any of your mobile phones and the conversation will be saved in your inbox. You'll be able to read through the conversation thread and search for past messages.
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And yes, at this time they are still listing this as a free service, with the exception of international calling.