GCM is a building block upon which one can easily build secure channels. One need only add authentication, key agreement and prevention against capture-replay attacks.
GCM and GMAC are currently in a draft for the IEEE 802.1 LinkSec (link-level security) standard.
We expect to release an optimized version of the library by the end of February. This version performs as well as OCB mode in our initial testing.
Brian Gladman has also produced an optimized version of GCM that is available in his modes library. Look there for his timing results vs. other free authenticated encryption modes, as well.