Nope. Google says its Chrome OS will not run Android-specific applications, since they have to be downloaded to a device to work.

What kind of computers will run Google Chrome OS?

Google Chrome OS will run on netbooks and mobile tablets (the ones , anyway). They'll be fairly scaled-down systems, since they won't need much functionality besides USB and Wi-Fi. Google is already working with manufacturers to come up with a list of hardware components that'll be allowed within the Chrome OS machines. Some of the early specifications include solid states disks (no hard drives) and full-sized keyboards.

Would Chrome OS replace your current computer?

Probably not. Chrome OS will provide more of a -- after all, you won't be able to run complex programs not available on the cloud, nor will you necessarily be able to use advanced peripheral devices.