I suspect that the world and its dog will have heard about this by now, but in case you’ve somehow missed the announcement from Google..
Google Chrome OS will run on both x86 as well as ARM chips and we are working with multiple OEMs to bring a number of netbooks to market next year. The software architecture is simple — Google Chrome running within a new windowing system on top of a Linux kernel. For application developers, the web is the platform. All web-based applications will automatically work and new applications can be written using your favorite web technologies. And of course, these apps will run not only on Google Chrome OS, but on any standards-based browser on Windows, Mac and Linux thereby giving developers the largest user base of any platform.
If (and I emphasis if) this takes off then MS might be in for something of a rough ride in the Netbook market. The Netbook vendors have been unable to stand up to the MS monopoly with Linux on Netbooks until now, perhaps Google can start to rebalance the marked a little ?