It's inevitable (and Apple, Adobe, and Mozilla seem to be pushing hard here), but I found a fun twist on Google's part: pixel shaders for the web! I heard Adobe's pixel shader support (PixelBender) is iffy distribution-wise, but O3D (... and thus likely WebGL?) seem like a happier route. The downer is that this means HLSL is rearing its ugly head even further.
Fun implication on my browser-based browser hackery -- we can prototype naive hardware accelerated rendering within the browser!
A lot more fun on the Google gallery for O3D.