I think that this could be the wave [sic] of the future cloud be computing as far as I can see (That is software run off the internet rather than the end users hard drive) is the way forward: if you combine a virtual OS with the trend in virtual hard drives, you could see an exponential growth in the the available computing resources available for use be individuals.
This move by Google is I feel the beginning of a new age in personal computation; that when combined with the development of full body augmented reality systems and latter combine these with direct neural interface (Keyboards and Mice replaced with brain to computer interfaces) this will enable users in the future maybe by say the end of this century or the middle of the next, if we follow current technological advance rates as a trend and More's Law; and project that into the future to experience the computer environment in their head (Think the Matrix but without the jack at the base of the skull).
The advances in nanotechnology particularly nano devices are most likely to have advance to a state beyond the limited small scale use/ experimental stage by then which should scientific studies prove them safe for human use; should make such interfaces possible: the current state of the art in computer to mind interfaces are rather crude devices in comparison.
All of the above will come with latter virtual OS not Google Chrome OS more then likely if at all: don't shoot the messenger, I am after all a Philosopher not a Genius, can't blame a futurist for trying.
Regards to you.
Cyber-Angel