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I just got around to listening to this. Nice intro about Microformats.
I love the idea of Microformats. There have even been some GreaseMonkey scripts to help convert some of the Microformats to the base format they are based upon. That is the key to Microformats though - human readable, machine parsable. Personally, I'm lazy and if I can get the computer to do something for me, like say adding an event to my calander, then I'm all for it. Isn't that what computers are for?
Now, to get a Microformat to handle online shopping transactions...