I definitely don't see this OS being used at home. Like at all. This is more for the traveling/business person who is always on the go and is stopping at the airport Starbucks to read up on some e-mails/check, the stock market or read up on a few blogs.
I think a lot of you are trying to see this being used at home and I don't believe that's what Google is trying to accomplish here. They are trying to target the business market.
One statement from Google's Official Blog about Chrome OS said, "Speed, simplicity and security are the key aspects of Google Chrome OS. We're designing the OS to be fast and lightweight, to start up and get you onto the web in a few seconds".
They are going for fast, efficient and care free when it comes to this OS. They want it to have a "Plug & Play" ability if you will, except with the internet. Turn on, browse, turn off. Simple.
And yeah, maybe when the full blown OS comes out it MIGHT have the ability to run SOME form of a game. Maybe something like Warcraft III on medium/low settings.
Or it'll just be able to play flash games with max settings. =P