Wow what to say now, this is an excellent move from Google. Google wants to make the web beautiful with Google Font API. This resource will be a good and useful source for designers to enhance their websites. And now the designers can build a great looking websites with less images by using the CSS3, HTML5 and this new Google Font API.
Google just announced Google Font Directory along with very handy API, one can easily embed stylish fonts in their website by inserting one line of code. The Google Font Directory lets you browse all the fonts available via the Google Font API. All fonts in the directory are available for use on your website under an open source license and served by Google servers. Check the fonts in the directory and grab a line of code to implement it immediately in your web site.
Checkout their quick start guide and examples which explains how to use Google Font API to add web fonts to your websites. I thought there would be some complicated coding to implement this, but no Google made our job simple by adding a special stylesheet link to HTML documents or web pages, then refer the font you wanted to embed in your site by CSS style.
I wish this directory will increase soon, hope font providers will contribute more fonts to increase this cool repository.
I am gonna try this for sure in my website soon, have to pick a right font for my site Titles atleast :)