I haven't spent a ton of time with it yet, but I am currently using it now and am really impressed for the price. I picked it up mainly to take to work with me and use for daily tasks, web browsing, emails, documents, etc. It's much lighter in weight and the battery life looks to be double that of my laptop, which doesn't have bad battery life by any means. I'd say for kids, you couldn't do wrong at all. They will be able to browse the internet, play a handful of games, listen to music, watch videos, and a variety of basic computing tasks. Essentially it's a tablet with PC like functionality thanks to Chrome OS. I'd definitely recommend picking one up, the kids will surely leave your laptop alone.
it is great, especially if you plan to give one to your kids. just don't expect it to play graphics demanding pc games. this is the lowest price it has ever been.
Thank you both! I picked one up last night, and its pretty great so far. Actually thinking of getting another.