We now have an update from the Google developers regarding the crappy text rendering in Chrome on Windows.
Here is what Paul Irish added in the Chromium bug tracker:
Our Windows font rendering is actively being worked on. Basic support for DirectWrite is now in Skia (to update from comment #13). At the same time, GDI was very deeply embedded in the Windows WebKit port and is still being rooted out. We hope to have something within a milestone or two that developers can start playing with. How fast it goes to stable is, as always, all about how fast we can root out and burn down any regressions.