This is really interesting news, it goes much further than simply the next OS for a Nokia flagship. Google challeneged Nokia by stepping on their turf with Android, now Nokia + Intel have blown away any reason Chrome OS had to exist.
For example if in the future I have to choose between a Meego netbook and a Chrome OS system with its obsession for keeping all my data on the "cloud", then it really is no choice, when they are both "free".