Frankly Java doesn't bother me as if you aren't working with the enterprise or with a few apps like GoToMyPC its easy enough to avoid, its the Adobe products that bite home users square in the ass. When you look at the combined number of bugs out there for Flash and Reader Adobe has been pretty piss poor when it comes to security yet sadly there are no replacements in sight.
HTML V5 is frankly half ass and piss poor, it sucks CPU cycles like a drunk sucking down free drinks and without GPU acceleration is completely unusable on anything low power, not to mention it doesn't even cover half the use cases of Flash, and all of the PDF readers other than Adobe end up choking on PDFs made by Adobe Acrobat thanks to all the funky features the free versions never seem to get around to implementing.
So while I'll happily give credit to the Google team and hope their patch makes it up the Chromium branch to all the variants quickly there is plenty of other bad software out there besides Java and unlike Java a lot harder to just avoid.
While for the current exploit, simply disabling Java from your web browser should suffice; try uninstalling it. You'll find that even the latest version of Photoshop, which doesn't even seem to have any dependency on Java, still somehow requires it to install. Matlab, Maple, and plenty of other software has Java as a dependency. I agree with you on HTML5, though. I can't even get font antialiasing to reliably work or antialiasing on any angled edge.