"The new version, number 5.0.375.29, is only available through Google’s Chromium developer channel and comes in a hefty 22.5 MB package."
"The added fat is due to an integration of Flash directly into Chrome."
"Other new features include HTML5 additions such as Geolocation APIs, App Cache, web sockets, and file drag-and-drop capabilities."
If you look at Chrome promotional video,
+ Show video
or at this picture
You will see that pages are rendered locally :
> You will see that pages are rendered locally
I think that's fair. Browser speed is not about a speed of an internet connection, but rather about how quickly a browser is able to render pages with all its components.
Well it is fair for the rendering test. But when you communicate saying "Internet, Faster" and speak about V8 engine, and web search, you do not do things locally.
Looking to the video, you may think that chrome search the web to load the webpage since the person is typing a word in the awesome bar. No they are loading a page locally, not performing a web search.