After all of the rumors, it's finally officially announced and released. ICS required. https://market.android.com/details?id=com.android.chrome So basically it syncs with your chrome bookmarks like the original ics browser. But, the additional feature it's talking about there is that it also keeps track of open webpages on other devices using chrome (desktop, laptop, tablet, or mobile phone) so you can continue your browsing the web while switching devices making it a seamless experience. Josh Topolsky from the verge does a quick short video showing the interface on the Galaxy Nexus. http://www.theverge.com/2012/2/7/2776319/chrome-for-android-beta-launches-on-android-4-0-phones-and-tablets I'm using it on my touchpad. The tablet interface makes it look exactly like the desktop version sans bookmark bar.
So even though adobe announced that they will officially stop support for flash for mobile awhile ago, android browser was still supporting it (as shown with ics browser). But now google has released Chrome for Android and it is being said that they plan on making it the stock android browser in future versions of android. Google stated that they have no plans on flash support in chrome for android. So it looks like adobe's flash for mobile will officially be dead soon. ios never supported flash. neither has wp7. webos is dead. blackberry playbook's os is dead. last man standing, android, will soon drop it. In other news, it looks like google has all sorts of plans for chrome for android. Chrome to Mobile will be replacing Chrome to Phone. It works exclusively for Chrome. It's missing some functionality of Chrome to Phone sending text to android clipboard etc, but it does allow you to send pages to chrome for android for offline viewing.
It's not the end of the world I guess. If both Android and iOS are on board with html5, it might actually see wide adoption.