I like Basecamp, project collaboration tool, as an interesting example of some Web 2.0 trends. Based on the idea that projects fail due to lack of communication, the web-based software is dedicated to doing one thing (facilitating communication) and doing it well.
Also significant is their business model, based on the try-for-free and pay if you like it model. They reinforce this by running a great blog, Signals vs. Noise, that focuses on innovation, agile software development, and their philosophy toward product design. It also gives customers a great deal of transparency into the company, a forum to be an active part of future development.
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