How fast can a quantum computer search?
  This paper gives a simple proof of why a quantum computer, despite being in all possible states simultaneously, needs at least 0.707 sqrt(N) queries to retrieve a desired item from an unsorted list of items. The proof is refined to show that a quantum computer would need at least 0.785 sqrt(N) queries. The quantum search algorithm needs precisely this many queries. 
Lov K. Grover (Bell Labs, Murray Hill, NJ)