What are the initial capabilities?
We’ve identified and prioritized an initial set of capabilities we feel are critical to closing the gap between web and native, and have already started work on a handful of them. You can see the list by searching the Chromium bug database for bugs that are tagged with proj-fugu.
Personally I’m really excited about the writable file API that make it possible to create web based editors, and event alarms that help perform arbitrary work at some point in the future. But there are plenty more: Web Share Target, Async cookies, Wake Lock, WebHID, user idle detection, just to name a few.