Chrome has recently been open sourced by Google as a developer preview. Its very young, clearly has some issues and needs serious work, however it is usable and lots of people have managed to get it running in a virtual machine or via a USB key.
Chrome OS is clearly based on Ubuntu(if you press Ctrl+Alt+T to open the terminal, you can see the Ubuntu Karmic development branch message) meaning hardware support should be excellent. However, its been heavily stripped downFor most people, Wifi doesnâ€™t work. Without Wifi, Chrome OS is pretty useless as it relies heavily on â€œthe cloudâ€ for most of its features.