A lot of people have taken to using Google docs, yes. It's pretty convenient since you can have your players share the sheet with the DM. I've also set up a "session notes" document and one player each session takes notes. That way we can all refer back to it later and I can correct spelling for proper names (Fantasy city names sometimes get pretty weird). :)
You could also use a service like
http://www.obsidianportal.com/ which offers free accounts where you can input your characters and make a wiki. The character's section has "Dynamic Character Sheets" for a lot of different systems or you can just type all the info in yourself.