You can change channels as below. But one thing if you want to go back to Beta or Stable channels, for which the new release is not available, you have to either wait till the new release comes or reinstall. Again it may be better to backup your profile, in case you think you may want to go back to an earlier release.
- Download and run the Google Chrome Channel Changer (http://chromium.googlecode.com/files/chromechannel-2.0.exe).
- Click the circle next to the channel you want to get updates from.
- Click Update to save your choice.
- Click Close.
- In Google Chrome, click the wrench menu and choose About Google Chrome.
- Click Update Now to install the current channel's release.
- Restart Google Chrome.
The new Chrome dev version supports extensions. So far few extensions may be there. But the most important one is Lastpass, which you can install as below;
Lastpass extension
Then install LastPass from https://lastpass.com/lpchrome.crx