John C Dvorak has a column on the new Google Chrome OS over at PC Mag. This was discussed a lot in this weeks TWIT podcast. Basically, you are getting a getting a laptop that cannot do much of anything without an Internet connection. That does not sound very promising.
As Dvorak points out, this sort of solution makes a lot more sense on a desktop. In my opinion, an iPad makes a product like this moot. Too little too late on this one Google. More Android touch pads please.