At their Searchology event today, Google announced a new feature set called "Rich Snippets" that includes microformats and RDFa.  Numerous commentators have provided analysis of this announcement, so we at Semantic Universe have selected a handful of the best, which are linked below:

Google Search Now Supports Microformats and Adds “Rich Snippets” to Search Results – Search Engine Land

Google Announces Support for Microformats and RDFa – O’Reilly Radar

Google announces support for RDFa – RDFa.org