Official Google Blog: Google Realtime Search: a new home with new tools
This appears to be one of those projects that involve a lot of work and resources, but result in very little gain. I don't see the usefulness of Google Realtime for anything beyond checking for possible news information that hasn't been reported in the major media yet. For example, I may want to read about the incident that caused train delays today. At the moment, I am using Twitter search for this purpose and it seems to do what I want.