no, all your content is licensed to us. as it says, you retain all copywrights and other rights to your content, but by using picasa you give google free reign

no, all your content is licensed to us. as it says, you retain all copywrights and other rights to your content, but by using picasa you give google free reign to make use of it. in addition, i'm not sure if i'm reading it right, but it appears you can revoke the license to google based on the additional terms of those services.