Would a Chromebook be a "Side-Grade" more than an Upgrade?

Hey guys,

I am quite intrigued with the new Google Chromebook, although I have a few questions that I hope you can answer.

I am heavily invested in Google (Drive, Android phone, Chrome) and that was one of the main draws for me; that, and the price. I'm using a 2009 Macbook (not Pro) now and I was in the mood for an upgrade (be it Mac or Chromebook), and again, the $250 price tag is nice, and I don't need anything too hefty spec-wise. Mostly school use and browsing.

However, I am an idiot when it comes to specs, so can anyone tell me if going from my Mac (specs below) to the Chromebook would really be an upgrade or more of a "side-grade"? Is the RAM too low for a laptop nowadays? Is there a major drop in Processor?

2.13Ghz Intel Core 2 Duo
2 GB 800 Mhz DDR2 SDRAM
NVIDIA 9400 Graphics

$250 Chromebook equipped with:

1.7Ghz Dual Core Exynos 5250 Chip
16GB SDD (I use Drive anyway)