Chromium 14.0.832.0 Build 93800 I just downloaded this now. There was only one issue mentioned in change log so I'm giving it a try. Only thing I see different immediately is there's a head on the caption bar. Guess it's supposed to be a quick way to set or change profiles. I don't use profiles anyway so it's either take it off(which is probably not possible) or learn to ignore it.
So far my favicons haven't disappeared. With only one tab open it shows six instances of chrome.exe which seems about the usual.
edit: although I'm pretty sure this varies with the number of enabled extensions. If I disable an extension I rarely use I usually see one less chrome.exe running. http://build.chromium.org/f/chromium/snapshots/Win/