As much as I like web-based services for personal information management like AirSet or Gmail, at the end of the day, I agree with Velo on where applications are going. As an avid user of MS Outlook, I know the shortcuts and interface and the (rich) feature-set of this particular "heavy" client which web apps haven't replicated yet. Show me the SOA architecture to enable web-browsing via IE/Safari/Firefox/etc. as well as local client usage AND through the mobile Internet and I'll show you a winner in both Web 2.0 and 3.0.