The bummer here for Google (and anyone else who'd like to provide an alternative to Apple's apps on the iOS platform) is that there's no way to set your default browser. Or email client. Or calendar. It'll be hard to use chrome if Safari opens up every time I click a link in email or any other app.
I wonder if Apple is ever going to run into legal trouble for this - it can't be much different than Microsoft's troubles with bundling IE, WMP, etc. on the desktop.
It is a bummer you can't make Chrome your default browser. However, if you move Safari to a folder and put Chrome in your launch bar, Safari being default won't bother you too much.