Here is their privacy policy, it's actually one of the easiest to read that I've come across - especially given how much data they utilize:
Privacy Policy ? Privacy & Terms ? Google
And this is Chrome specific:
https://www.google.com/intl/en/chrome/browser/privacy/
You actually have a lot of control over that information as well via the dashboard:
https://www.google.com/settings/dashboard
As far as the logged in, not logged in thing: Information is being collected when you are not logged in, such as the session ID, activity, etc and that information is processes like it normally would be. Most information collected is never associated with a user and so this has a very low impact on your personal settings. It is possible to link activity on one computer to other activity on the same computer via the IP and it could be associated that way if needed - however that's not something that is actively achieved unless there is a specific need.
One part of the second link to pay close attention to is "Incognito Mode". That mode can be used on tabs and essentially halts the collection of some information (IP, pages viewed, etc) and automatically clears cookies from that session when you close the browser.