Among Web developers, anticipation is mounting for HTML5, the overhaul of the Web markup language currently under way at the Worldwide Web Consortium (W3C). For many, the revamping is long overdue. HTML hasn't had a proper upgrade in more than a decade. In fact, the last markup language to win W3C Recommendation status -- the final stage of the Web standards process -- was XHTML 1.1 in 2001.

This is a good article reviewing some of the pros and cons for the new HTML5 and who are backing it and why?  If you are interested in being ahead of the developer game in developing the coolest web services and web sites then this is a good read. Taken from March 2010 of Infoworld. 

The article is found in the

Javaworld developer area. Very useful place to visit.
It is a subset of the Developer World which is more general and useful to all software application developers.