Just a couple of links telling us this is a very big deal -- even though the first machines won't be available for another year or more.
John Stokes in Ars Technica: Chrome OS: Internet failing at PC > PC failing at Internet:
In 2009, it's better to be an Internet company that's taking slow, awkward first steps toward the PC, than a PC company that's still trying and failing to truly integrate with the Internet. Ars looks at what Chrome OS means for Google, Apple, Microsoft, the netbook, ARM, Intel, and the cloud. "Revolutionary" is a clichéd term, but Chrome OS is a good candidate for it.
Robert Cringely at I, Cringely: Chrome and Chrome, What is Chrome?
While we’re talking about operating systems here, Google’s real target is Microsoft Office. Redmond makes money from Windows but makes a lot more money from Office, its productivity app monopoly. Google already has its Google Apps pitted against Office, but Brin and Page know they won’t crack Office’s hold on corporate America without addressing the Windows flaws that effectively underlie both Office and Google Apps in their current incarnations. That’s where the Chrome OS comes in.