Nexus S running on T-Mobile, and revealed it has NFC features, a technology he thinks will eventually replace credit cards. Unfortunately, he also called it an "unannounced phone" from an "announced manufacturer," and the logo was taped over, so we're not any closer to a release date here.
Update: We've added some more pics to the gallery, including some close-ups that show the carrier is indeed T-Mo. We'll let you know if Schmidt drops any more details on this thing.
Update 2: Schmidt said Gingerbread would be out in the "next few weeks," so we're assuming this bad boy will come along with it.