I'm putting together a PowerPoint about Consumer generated Media for work tomorrow. (I'll complain later about how much time I spend in PowerPoint and Visio instead of doing development.) I really think CGM is a pretty cool concept for the web. Anything from Wikis to UrbanDictionary to more bizarre advertising vehicles like Method's confession booth called ComeClean.
I've done one top-notch project (yet to be released) for a client that leverages CGM and I hope to do more.