OK Kim, a pleasure. What would you like to hear about?
I'll kick off with RIA which iamlost started talking about.
RIA means Rich Internet Applications. Its definition is a bit... amorphous... and so I'll give you examples. A "poor" (opposite of Rich) application is one that doesn't have much coding beyond HTML or some javascript. Rich content could be video or photostreams or audio. Rich controls could be calendar controls, text boxes with extra functionality and more - anything beyond the basic interface that HTML allows you to build.
jQuery (the Javascript and AJAX library) websites can be rich. For example, with jQuery you can have a text box where when you enter it, a calendar pops up. The calendar is part of the page's HTML but it is a new level of interaction and functionality that is not inherent in HTML itself.
The two biggest contenders for building truly rich web apps are Adobe's Flex and Microsoft's Silverlight. Google Gears helps with just one aspect so I'll start with it as a specific example.
Gears is a browser plugin that allows you to store website data locally. This allows for "offline modes" to be built. The scenario is this: you log into (say) GMail and you download your email to your browser. You can then go offline but you'll still have access to your emails. Cheekily, this is called the "man in an airplane problem".
You can imagine a powerful scenario where you're working on a document that you can edit offline in your browser and then have it uploaded when you're back online. Zoho Office allows you to do that with some of its web office apps.
Flex is essentially the next generation of Adobe Flash - I think version 9. Using ActionScript (Flash's coding language) you can build rich websites based on Flex. Because ActionScript is similar to javascript in many ways, and because Flash has a huge installed base, Flex is a strong contender. Remember that a lot (all?) embeddable video players are Flash based. Flex also has local storage as Gears has.
My favorite horse in this race is Microsoft's Silverlight. Again it is a browser plugin that allows you to interact with the browser, the HTML, and the server that generated teh page. It works by creating XAML, an XML-based interface language that describes the interface's controls. Version 1.0 was released a few months ago and it supports JS as the language of choice. The power of SL though is when version 2 is released. Then, we'll be able to use any .net language to write websites. That includes C# and VB.net and have those run in the browser. This means that we'll be using desktop-quality controls and programming languages and have them display in the browser. That's going to be very disruptive.
Silverlight also has an attached service called Silverlight Streaming. Basically, it's 4GB of free space on MS's computers where you upload your Silverlight app and the videos and have them run on MS's computers and streamed from there. In short, your own mini YouTube.
So why do I think Silverlight will win? Many reasons:
1. More powerful languages at our disposal. Programmers like things easy, and it will open up the opportunity of desktop programmers to write web apps.
2. Theoretically, if you code your app well, you could have it run unmodified on the web, on your computer (both Windows and Linux!), and even on the XBOX. It's one platform to rule them all. This is yet to be seen so don't hold your breath.
3. IMHO: Adobe has had a less than exemplary record of building browser-friendly plugins. Flash on Firefox consumes way too much CPU and the Acrobat plugin tends to crash the browser more often than not. MS is more friendly that way, and the biggest stumbling block they've had (standards compliance) is apparently fixed.
So this is the RIA crash course. It's going to be big and it is going to open up a whole set of cans of worms:
A. Usability of rich web apps is a big big issue.
B. Accessibility is an even bigger issue: how will screen readers handle XAML?
C. SEO is another issue. We already know about Flash's problems, so multiply that by many more sites. XAML is XML - i.e., text - which could theoretically be indexed by SEs if they know how to deal with it.
And of course, the inevitable flame wars (I may have started one in point 3 above

).
Questions? Next topics?
Pierre