Chrome is fairly resistant to scratching, but it shows smudges, and a lot of (fully and partially) chromed frames tend to rust. (this problem could probably be alleviated by good (nickel?) plating underneath the chrome)
There are also supposed to be some environmental issues with chrome. According to a bike maker i know, German environemental standards make it almost impossible to get good chrome-plating done in Germany.
A chromed frame wouldn't be a reason for me not to buy that Herse or Singer, but I wouldn't have a new frame chromed. For KOF purposes, polished stainless is the new chrome.
Tobit Linke, Dortmund, Germany