Could You Live Your (Computing) Life Only In The Cloud?

So the first batch of Chrome OS computers started shipping this week - one by Samsung and one by Acer. They're basically like a standard laptop, albeit an under-powered one - think netbook specs. They both have about a 12 inch screen, weigh under 3.5 pounds (1.6 kg), have a couple of gigs of RAM, a solid state 15-20GB hard drive, a SD card reader, couple of USB ports (no ethernet), built-in WiFi (no ethernet - but Samsung has a 3G radio option) and a built-in webcam/microphone. They both retail for about $350 (WiFi only) to $500 (WiFi + 3G).