It's no secret that Google invests in Mozilla and bundles Firefox with many of their downloads and Mozilla tends to make Google services front and center as well. So why then is Google making their "own" browser based on the open source "webkit" (which also powers crappy Safari)? I have no idea. As if we need yet another F-ING browser?! It's like the cereal aisle in the grocery store. Rather than trying to bring things together, they're fragmenting even more. Paul Thurrott has a decent review posted on Chrome if you want to read more.
But, again, why wouldn't Google just absorb Mozilla and avoid the waste of time, money and resources developing yet another also-ran product? I dunno. Dumb. I wonder if this will become the Microsoft Bob of web browsers. Google Talk has been such a success after all (NOT!) that they must have felt the need to try another.