Yes, it takes about 10 minutes using C#. Drag a web browser control to the .exe, call browserControl.navigate(url), and there, you have a native application. Use NSIS for the installer, add some license key routine, and sell your B2B copies for $299 a seat.
Plus you need to do all the stuff to set up a local server, no?
Adobe Air does the same thing x-plaform. The is also a mozilla project, I forget the name of, which is like Air but uglier.