Buy it on Amazon - (affiliate link).
This is an exceptionally well built computer for the price. The keyboard is fantastic, the trackpad is decent, and the display is just as good as the one on my 11" Macbook Air. So what's the trade off? A very limited operating system that needs to be connected to the Internet all the time in order to be useful.
Chromebooks are computers that boot up to Google's ChromeOS - which itself is pretty much just a Chrome web browser. Google has built a nice eco system around it with quite a large catalog of HTML 5 apps that run inside Chrome on nearly all platforms. The Chromebook will sync itself to your other chrome installations, meaning that every extension and bookmark will be right where it is on your other devices.
The problem is that the Chromebook 11 becomes significantly less useful when it's offline. Documents are mostly inaccessible and apps that aren't expressly written to run offline in the browser won't load. The Chromebook 11 lacks an internal cellular modem so it will need to be within range of a WiFi access point (or a cellular hotspot) in order for it to work outside of a home or office. I did find that Google hid "quickoffice," an app that allows offline document editing, but I was only able to get it working if I had previously downloaded a compatible document to the Chromebook first.
Under the hood the Chromebook 11 has what is essentially a tablet or smartphone processor. It works fairly well but it isn't as snappy as a PC or modern tablet might be. YouTube videos stutter a bit when loading and text sometimes lags behind key presses when working on a document.
So who's this for? It's a great kids machine provided they'll have constant and reliable access to the network. Since the documents are stored in the Google cloud there's little chance of losing anything due to a damaged or stolen device. Also those who are considering dumping their PC's for a tablet might want to consider this instead as it's more useful as a productivity device - provided they don't mind living in Google's cloud.