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But @ OP, in all seriousness, I don't think Google intends for Chrome OS to compete with Windows. It represents a very different direction in operating requirements and will likely appeal (at least in the first few years, if it lasts that long) to non-typical enterprise users.
Comparing Google Chrome OS with Windows 7 is apples and oranges.
Google Chrome OS is basically Google Chrome, and that's it. It's perfect if your life is on the cloud - all your photos, documents, etc etc - and you don't use any programs that aren't web-based (although admittedly web apps are starting to give most desktop apps a run for their money, like grooveshark, atrium, etc etc) .
But if you want to save your files to your hard drive, have a music collection, a catalogue of movies, or install any program then it's not possible to use it as your primary OS. Great for a laptop perhaps.
Chrome OS is not yet ready to take over the role of main desktop OS yet.
web based office suites is still having very limited features.
as we all know, most ppl not using the desktop/laptop for work only, there is still a lot ppl addicted to torrenting, especially torrenting distros