Does Google Chrome OS Work On Intel Core i3 Based Laptops?

I have a Compaq laptop with intel core i3, 2gb ram, 250 gb hard disk. Can I install Google Chrome OS? How is it in comparison with Windows7 Ultimate? I just need to browse the web for emails and download games, movies, songs etc. I dont do anything else. Is it OK to have Google Chrome OS? I cant afford to buy Windows7. I am preferring Google Chrome OS because its free.
 
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