ARM-based, huh? I like that they're going in that direction, but I honestly hope it doesn't increase the fragmentation of the OS. It seems the ChromeOS team has had trouble keeping up with just the five devices at times...and they're all x86-based.
Now they really need to push the "why a Chromebook" again. The ad from I/O 2011 was a brilliant, succinct description of the concept, but Google seems to have list their way on the messaging. They really need to hammer home the "cloud device" paradigm or people will just keep asking why not a cheap Windows laptop.
Oh yeah, and stop trying to make a browser masquerade as a Windows OS! ;)