Google Chrome is a browser. Google Chrome OS will be an operating system that is essentially a browser.

http://www.youtube.com/watch?v=0QRO3gKj3qw
This is an interesting development because when I teach teachers about new technologies, many (probably most) of the problems they encounter stem from the older, underlying operating system technology. Often the problems stem from browser incompatibility or microphones/webcams not working or missing plug-ins, etc, and not the web application itself!
Over time I think this approach (if not Google Chrome OS itself) will take off.

There are similar projects, like Jolicloud (http://www.jolicloud.com/). Not purely browser-based, but Internet oriented.
Thanks for the lead, Kieran. I download jolicloud and will try to get it running on netbook I have.
Pingback: Looking Back at Techcrunch’s 2010 tech predictions « Todd Lyden
Pingback: Google Chrome: One Step Closer to Paperless ? « A Technology Resource for Legal Professionals