Its true.  If you look in the upper right hand corner of your toolbar you should have a wrench icon, which quite commonly enough brings up a drop-down with various settings.  Right below “Preferences…” is a “View Background Process (#)” link. Click it and it will bring up Chrome’s own task manager.

That link, “Stats for nerds” is also a great little tool for seeing what tabs and extensions have been using as far as memory is concerned.  A great development tool for those wishing to create extensions for chrome and writing optimized javascript and HTML5.  I also love the nerdy Bug message at the top, and issue 25454.