It's great news that Google Code has finally come into this century and now supports Git as a native repository format. Previously, it just supported Mercurial and SVN as two repository formats.
I've written it up at InfoQ, and it is yet one more reason to switch to Git from archaic repositories such as Subversion and CVS.
Note that the Support FAQ lists a minimum version of Git 1.6.6, which was when the 'smart http' protocol was introduced. It's likely that Google Code, together with GitHub, have abandoned the 'dumb http' protocol for performance reasons. (GitHub switched off dumb http support last month.)
Note that as well as support for Git on Google Code, it also applies to new (and presumably, existing) projects on Eclipse Labs as well.
Time to re-open the ObjectivEClipse project!