I was very fortunate in receiving one of the original CR-48 chromebooks when Google was beta testing them. I still use it every day – it is a wonderful device for browsing the internet, email, even watching online videos. It can start to stutter a little with 1080p quality video, or with lots of media heavy tabs open, but other than that it is amazingly powerful and versatile. It is the only thing I take when on trips – the built in 3G is very nice. Now that google drive is being implemented into the OS its even better.
I am very excited about the announcement of the new chrome hardware today. I am thinking about getting a Samsung Series 3 Chromebox for a cheap home theater PC. I think the onboard graphics should be plenty to play online HD video.
Update: found this review from Engadget of the chromebox. Looks like it handles video well!