I got my hands on the Google Chromebook and have been using that for the last 4 weeks. In fact I'm sitting here writing this article while watching TV.
Hardware
The first experience in using the Chromebook is that on first glance it has a lot of similarity in looks to the Mac Book Air. Instead of polished aluminum you get gray plastic; however the keyboard screen and trackpad are all of acceptable. The weight is 2.6lbs (vs 2.38 for the 11in Macbook Air). On the back is the power plug, two USB slots, and a DVI link connector. The screen resolution is 1366 x 768.
When fully charged, the battery will last about 9 hours in regular usage of web and wifi. Bluetooth is available if you want to hook up a bluetooth mouse. I did not test out the bluetooth extensively but it is likely that bluetooth will cut down on the battery time.
The keyboard has a nice feel and the trackpad sensitivity can be adjusted to accommodate your preference.
One test I have not done is test hooking a Chromebook up to an external display. I did not have a DVI connector that worked with a projector. These can be ordered with the Chromebook or from Amazon.
Software
The Chromebook gets it name because it runs the Google Chrome OS. When you first set this up you are asked to sign into your google account. Once you sign in the Chrome browser is launched. For those that use the Chrome browser, it feels quite natural and you use that to change any settings.
In the lower right of the display you have icons for the common Google applications - web browsing, email, search, youtube, and some additional google applications.
At the heart of Chrome OS is Google Apps. If you are not comfortable using Google Apps for all your work then this is not the device for you since you don't have Microsoft Office.
For files, you can you save them to your Google drive or a USB.
My Experience
I use Chrome as my browser and live in Google Apps for most of my day. While I occasionally need to use Microsoft Office I can get through most of my day without it. What I do want, is a device that has good battery life, a good keyboard, and touchpad, and is stable. What I found in about 80 hours of use is that the Chromebook did all things well and was a very capable laptop for my usage.
Buying Advice
If you actively use Google Apps for your work and email then you will find the Chromebook an inexpensive and effective laptop. If you find that much of your work is spent using Microsoft Office then you will likely find the Chromebook is not a sufficient replacement for a laptop.
I didn't test out the VGA display but think that the Chromebook would be an excellent device for faculty or staff that have a desktop computer and want something that is lite in weight and portable for email or web browsing that can function like a laptop. Even more so if you are comfortable using Google Apps and Gmail.