Beat? Well that is sort of hard to say. Like most Google applications Chrome is sort of half baked beta software. I use it, have it and while it has its uses the overall effectiveness isn't that great. Speed wise it is not any noticeably faster than FF (even less so in the FF4 beta).
As for IE well that is easy to beat really. If MS did not have the "preinstall" advantage it would have gone the way of Netscape did a few years ago.