The New Picasa feature called "Picasa Web Album" lets you have your pictures posted on a Web Album which has a free 250 MB space. The interface and other settings are very primitive and does not have the touch of Google. They will need to work on adding more features and provide a healthy interface.
It has the usual Slideshow and Zoom features, but when compared to Flickr the options are very minimal. Should have been my mistak to have installed the new feature with Flickr in mind.
By the way, the picture you see on my Picasa Web is the most beautiful face i saw in the last 12 days. Eric Bana's daughter in Munich. Cute. So very cute.