October certainly is the month for new product announcements. First Apple on the 23rd, then Microsoft on the 26th, and now Google on the 29th.
Rumor has it that Google will announce memory increases for the Nexus 7 tablet. Today, the $199 base model has 8 GB of flash memory. That will likely increase to 16 GB. The $249 Model will jump from 16 to 32 GB. Other rumors say Google will announce Nexus models with cellular modems on board.
In this scenario, it's unclear what happens to the 8GB Nexus 7. Google might keep it in the lineup at a lower price, say $149. That would be a good deal for a tablet with GPS capability.
The other item for the Oct 29 meeting will be the announcement of a new Nexus phone. It's a model from LG with a 4.7 inch screen and LTE service.