If anything is Web 2.0, this is it. Technorati just released a search platform based on the not-so-well-known microformats effort.
In short, microformats provide a way to define content in your markup. For example, you could label certain items as events or others as contacts. When doing a search this content can be easily organized to provide more accurate results. This is literally the next step in organizing the web, but it will take a lot of effort and support to make it mainstream.
Until now, Microformats has not been that useful since there was no real-world use. Technorati’s effort to build a search is the first step to bringing it to life. We are really excited about this and plan to introduce the format within our current projects. Stay tuned!