There was just one nagging little problem, up to version 22.214.171.124. Though chrome has a built-in spell checker (not the very best, but it does a good enough job at making suggestions for most people), it only works on a subset of web forms. Most notably, it never worked properly in Blogger. Now, however, it does. Just right click in the form, and select Spellchecker options to enable it.
If you do come across a misspelling that Chrome cannot correct, you might try FreeSpell, which adds a very high quality spelling suggestions to all windows programs.