We do not need to look far for a good implementation of a "Chromebook"-like system.
Jolycloud, a France-based company founded by Tariq Krim in 2008, has what seems a great Chromium implementation. Described as a personal desktop in the cloud, the product allows netbooks and old laptops to function fast and trouble free.
I downloaded the programme to my PC, copied it over on to a memory stick, then ran that on my Acer Aspire netbook. Loaded on to this was Windows XP, which always performed sluggishly and poorly.
Joli OS ran trouble free and FAST! The desktop was simple and easy to navigate. It partitioned the netbook nicely and the on-board systems (sound, wireless, etc) worked without attention - just needed to log-on. You do need to create an account with Joli so that you are able to work from any Joli OS computer - hot desking!