Microsoft just demonstrated a feature of Windows 8 called Windows To Go that lets you store Windows 8 on a USB drive and use it on other PCs.
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Windows To Go puts all your apps, settings, etc. on your USB stick. From there, you pop it into another PC and a full version of Windows 8 is up and running. It even works on machines running older versions of Windows.
Essentially, it's the entire operating system stored on a USB drive. Very cool.