Yes, with Google Chrome OS that’s possible…imagine it’s as fast as turning on a TV. No longer waiting for computer to boot, loading which take at least 45 seconds up to few minutes (depending on individual PC speed).
Well, what make it possible ? The data and info is stored in memory chips instead of hard disk. As we know based on current hard disk speed, it’s still take a while to fully load the OS and thus contribute to the waiting time when you power up your computer. Memory chip, on the other hand is fast…far more faster as the processor could fetch the info direct bypassing the searching and retrieving process from the hard disk !
Compare to the conventional PC, The Google PC is web-based, meaning you will access the software and application through a dedicated high-speed server via internet. Since that’s the case, you won’t risk losing data as anytime when you lost your netbook, just get a new one and everything is back to normal…and again, you are up and running in 7 seconds or less 
Well, there is always pros and cons though. You will make sure that your area are highly accessible to the internet. In other words, you will need a stable internet connection. When there is no connection, you can still access to certain data but of course with limitation.
If you interested to get to know more on Google Chome OS, I recommend you to read this article, or news I should say which will open your eyes to this forthcoming technology.
Sounds Cool!
But it’s always possible that everything collapses when talking about net based system. What if you cannot get a connection to internet? You can’t use the computer.
In general, the thing that makes me nervous is that nowadays it’s all about the internet. Without internet we are nothing but helpless people. We don’t have any backup!