The premium version has Safe Browsing and Privacy Advisor. But I welcome any new app for security. I would even pay for one that can advise on real-world app permissions issues, not only on install, but on update.
I use Lookout as well. I've even written a few articles about them. I think the advantage of Google jumping in is the same as when MS created Security Essentials. The infection rate dropped dramatically from all the users that did not have any protection.
If I recall correctly, I got the idea to use Lookout from one of your articles : )
Of course - I'm guessing it may only be an anti-virus, and not particularly malware centric.
I have not heard any negative comments on Avast. And, William and I didn't get to it during our testing.
I would love for Android to have a built in malware scanner. I would also love for Android to have a built in ad blocker and privacy protection, but I am not holding my breath for the the latter.
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