If you have a Cr-48, switch it to dev mode, update it, and head to the Omnibox. Type in “About:plugins” (no quotations) and afterwards, disable Flash (I’m putting heavy emphasis on this). Hit “Details” on the top right corner, then only enable Flash 10.2. Proceed to 720p HD YouTube video, and watch (oh, and right click for Flash settings to enable hardware acceleration). While this may tickle your fancy for all things HD, keep in mind this is very half-baked software, and thus, say hello to Mr. and Mrs. Lag once in a while. Also, the webcam and microphone can be enabled.
You are welcome, dear reader.
Update: 1080p HD videos can also be “watched”, but since the Cr-48’s 12.1-inch screen only has a 1280×800 resolution, forget about that. Nevertheless, a great find.