I was lucky enough to grab a new Chromebook (I do like the Cloudbook ref) this past week. I've seen the bench marks and, yes the new ARM model is a tick slower than the Intel in tests. From user experience I've found it quite snappy. Much faster on the internet than my first gen iPad.
I picked it up to see how much you could do for $249. It's screen could be better, the camera could have more pixels, but all of that (including an Intel) would have raised the price beyond $249.
ARM can help reduce costs and that will put a computer into the hands of more folks. All good!
One of the things I originally loved about the Amiga and the Mac was the marriage between the OS and hardware makers. ChromeOS seems headed in the same direction.