Some sites will honor it. I don't see the harm. Especially the sites I use chrome for: All my non pseudonymous stuff like my Gmail account and my credit union. Actually I can't use chrome for some features at my bank because I can't find a way to enable popups for even a whitelisted site. I don't really hope Chrome will change. I would rather my bank change to not require popups. I notice chrome asks me for my gnome keyring password. I am not sure what that is but I believe it's some data stored in my home directory in a dot folder where chrome stores my passwords in encrypted form. I haven't looked into it. Maybe that's not what it's doing. Still I don't think google is going to raid my bank account. I used to use opera for my on the up and up browsing and online purchases, but I'm trying chrome. I very well may go back to opera.
Most of my browsing is pseudonymous with convienience placed higher on the priority list than privacy, and is done with firefox. I have ghostery, abp, betterprivacy, smartreferrer, maskingagent, and use polipo as a proxy ( no tor, cache off, just remove identifying info ). Some of this is probably redundant. I also had the RequestPolicy add on to deal with webbugs, but it broke too much stuff, so I disabled it. Using it for a while reminds you just how buggable you are. Real privacy even from random sites ( not talking about the government here ) seems almost lost cause unless you're going to use Tor, but you can still try to be in the 10% they don't bother with because it's a slight pain. It's easy to show up in reports, but it's easier to be missing some key and be ommited from a query. If there's a serious effort to finger you, your're probably hosed, but if there's a casual sweep, you might get lucky be missed.
I think I like firefox sync's password store better than whatever chrome is doing as it's stored off my hard drive 'in the cloud'. I haven't wiped my hard drive since using chrome, but I have a feeling I would lose my chrome passwords if I wiped my drive without backing up my gnome keyring. I wrote down my firefox recovery key and have already used it to recover my firetox passwords. The stuff is supposedly stored in encrypted form. I trust that it's true. The only thing I wish is that you could add annotations to the passwords you store such as eg; passphrases. Some sites ask you for additional information the first time you log in, often on a different screen. I also wish you could write yourself private text notes of stuff to be stored encypted in the cloud with your firefox passwords, maybe a MB of space or so. Maybe you can, and I haven't run into it.