In a nutshell the answer is No
Until the way we browse fundamentally changes, new entrants like Google's new browser 'Chrome' really have nothing to add for the majority of users. The future is touch screen and voice commands. When these start to become ubiquitous, what the mass market needs from browsers will change. At that point there will be a big gap for new entrants.
If Chrome was setting itself up to exploit that change, we'd be looking at the early rumblings of a browsing revolution. But it isn't.
The browser is not finger touch oriented in anyway, and in fact the functionality has become more mouse based, fiddly and precision oriented. There isn't even the 'alt' functionality needed for disabled access technologies.
So no, for the moment I don't really see Chrome taking over the world. I suspect it will be just another player like Firefox. I'll be keeping an eye on it anyway from the perspective of USP development, so if anything new comes to light that changes my view, I'll be sure to keep you posted!
Meantime if you want to know a bit more about this, read the full article on my other blog - www.multichannelthinking.com.