Chromebook Pixel Owners - A Question

Preface: Let's do everyone a favor and not get into the "LOLZ it's a browser!" discussion. There are plenty of other topics on the Chromebook Pixel to voice your disdain.

I own an ARM Chromebook and have always been annoyed by the inability to play HD movies purchased through the Play Store. The Play store will only allow up to 480p on movies that were purchased in HD format. I understand the rationale in not wanting to provide HD feeds into Windows/Mac instances of the Chrome browser, but you'd think that Chrome OS was locked down enough to allow HD viewing.

So... question for Chromebook Pixel owners: Can you watch HD movies purchased from the Play Store in HD? It seems like it would be a shame to limit that screen to a max of 480p on purchased HD content.