The browser wars were initially between Internet Explorer and Netscape which eventually Explorer won. The next round was between Explorer and Mozilla Firefox. Adding to this competition is the browser from Google. It made a a fairly low-key début, mainly claiming speed as its USP.
I have been using Chrome for a few months now and it is fast indeed! In addition, its close coupling with Googles various services make it a strong contender if you are a Gmail user.
The other feather in its cap is the number of apps and extensions that are available in the Chrome Store. These range from productivity to user interface.
Lastly, it has a useful feature called - Sync. I am using it for a few weeks now. It syncs the settings, bookmarks and apps between the Chrome browsers on all the computers that you use. Its as close as you can get to a Chrome OS experience.
If you are a Internet Explorer or Mozilla Firefox user, I would strongly recommend using Chrome. It is only going to get better.