Google Calendar has just launched a new improvement to the notifications for All Day events. Now you can customize the timing of the All Day event notification to be X days and before X time of the event.
In addition, when you go into a specific calendar’s settings, you can set the default notification timing. Just like when creating/editing an event, you are able to set the number of days in advance and the time of day for the notification.
This is definitely a welcome change from Google Calendar.