HandOff is the kind of thing I'm surprised took so long. Honestly, I was expecting MS to get something like it first. After all, your Windows Phone already runs Windows, right?
I remember that that I could do far more with my Sony Ericsson W800 (and Salling Clicker) than I could with my first iPhone. Dialing numbers from the address book, sending and receiving SMSs while the phone was in my bag/pocket, turning the screen saver on and pausing music if I left the area - and reverting on return. Apart from the UI polish, this was the least impressive part of keynote (at least for me) as those were things I had to give up on.
It sounds like you underestimate how hard it is to have "UI polish" implemented just right so that it feels seamless and natural instead of a hack (because honestly we do love to hack but ultimately prefer our prototypes to be implemented first-party, e.g I've been using JACK to stream audio in sync on various devices for years but AirPlay is so much more simple and natural)
It's like Pushbullet built into both OSes with the polish that entails. Absolutely genius. I hope Google builds Pushbullet or something very similar into Chrome and Android, that integration is awesome.
AFAIK, PushBullet doesn't allow you to answer phone calls.
The closest analogue it comes to my mind is an early demo of Ubuntu for Android in which they showed the ability to reply to SMS messages from within the Unity desktop (although I'm certain I saw a phone call demo too, just can't find a link to the video). However, in that case, both the Ubuntu desktop and Android were running on the same device, so it was easier (still a notable feat for the time).
This kind of integration between different devices is far more impressive, though.
Nope it doesn't - that's an example of where this is much smoother. FWIW MightyText already does SMS (via an app, not proximity) on Android/Chrome - although it's not Apple smooth in terms of replying either.
I think the right way to go would be syncing the actions as well as data of Android's rich notifications - things like reply to email/archive from chrome notifications, reply to SMS, hangouts.. It'd be Google's universal apps between Android and Chrome - syncing actions. It'd need a lot of developer support but it'd be fantastic if they pulled it off as well as Apple and supported third parties in a serious way.
They kind of already have something like it with the roaming storage on 8.1, there's just not enough crazy interested developers on the platform trying to push the limits of the sdk, and MS hasn't really advertised all the neat stuff well.