We’ve all been whispering sweet nothings at each other for weeks about just what Google Me may end up being. As Google’s eaten smaller companies left and right over the last little while, most of us have been seduced into believing a true Facebook Killer might be in the works.

But Google’s ever-handsome CEO Eric Schmidt assures us there’s no reason to get terribly excited.

“Everybody has convinced themselves that there’s some huge project about to get announced next week,” said Schmidt at a tech event in Arizona. “And I can assure you that’s not the case.”

Apparently, Google Me will be much less a social network so much as simply more social integration to Google’s existing services. You know, how you plug into other sites with Facebook, etc. Yeah. That. Nothing to see here, people. Calm down.

“If you think about it, it’s obvious,” continued Schmidt about the truth of Google Me. “With your permission, knowing more about who your friends are, we can provide more tailored recommendations. Search quality can get better.”

True that. But Eric, haven’t we always considered Google’s freakishly poignant recommendations already creepy in their accuracy? I shudder to think of what Google Me holds for us.