I must so that the Web 2.0 overall is a lot more talk than anything else. I like Google mail. It might be good enough to replace Exchange once Notebook and Calender has been integrated.
As far as I am concerned, most of these "new" technologies is more about the bark than the bite. Interactive web applications is not the best model for creating applications - it is just the only platform that is available almost everywhere. The technology is inferior and inefficient.
I am working as a SAP consultant. SAP is, to say the least,behind the technology curve. But the company survived for 30 years for a reason. Maybe they realise that it is about the people and the business instead of the technology. You can always integrate technology later on, once you've satisfied the needs of the people and the business.
This is the same position Microsoft is in. They can always change their model around Office, gradually - because they satisfied the needs of business and people. They've got a real nifty implementation of Outlook Web Access. They have Office Server components. They can change faster than anybody might expect. Google has only one real edge. Search (which propells Ad sales). Everything is eye candy, and is not actually making money.
But I still love my gmail!