Google vs. Microsoft, Again

Google recently announced their Chrome OS. In addition to upsetting my various friends who once worked at the company called Desktop.com that was trying to do the same thing (and which may or may not still be kicking around in some post crash form, I'm not sure), it is intended to scare the pants off Microsoft. I'm not terribly worried about Microsoft's pants, but some folks have pointed out some interesting questions about the Google project.