It has full Flash. Flash is built in on desktop Chrome. Chromebook runs desktop Chrome. Not mobile Chrome. It's why Hulu will work on Chromebook.
Chromebook is not Windows laptop replacement. It's companion web device just like our smartphones and tablets. Most people with Windows or Mac laptop lightly browse the web, Facebook, Twitter, email, and maybe use Google Docs to write papers. Chromebook is ideal for that.
I want to give it a chance. I'm just not sure where it fits in yet. I have a laptop, a Nexus 4, and iPad, a Kindle Fire HD.
I do like the idea of a thin and very light laptop with a keyboard that is instantly ready so I can casually surf the Internet and be able to post messages with the real keyboard. I just worry a little bit about the lack of plugins (guess Flash is included, forgot that). Thankfully I don't use Netflix anymore, so no Silverlight isn't a problem now (assuming Amazon Instant Video should work with Flash).
I also wanted to use this Chromebook to RDP to my desktop. Unfortunately I tested Chrome's RDP client on a real computer and it's performance was absolutely horrid, so I'm thinking remote desktop is probably not going to work well on this either (someone correct me if my experience is wrong).
Probably my biggest fear is the quality of the display. I'm not a fan of the LCD screen of my $800 14 inch Dell laptop, so I'm kinda scared of what I'll get for $250. I saw it in the store and it looks "meh", probably tolerable.
PS. Another thing I like is it has no fans.