What can you do with microformats?
There are many great things you can do with microformats. This page presents an opportunity for you to share your favorite explanation of the great things that microformats can do and why you use them.
Microformats make it easy for you or anyone to share and reuse data in your webpages and content elsewhere -- for example, to populate an address book, browse social relationships, share reviews, tag content or publish and discover events.
by Chris Messina, with minor tweaks by Tantek Çelik.
Another relatively general blurb:
With Microformats, you can send & publish things like events, business cards, and product reivews as meaningful XHTML that a person can read in a browser, but a program can import, index and remix as native data.
It might also be worth adding the following:
Even better, if you've got a favorite kind of data that's already published on the web but needs to be easier to share, find and remix, *you* can join in or even start the The microformats process to make the web we already have more useful. Examples of efforts already underway include things as diverse as recipes, chat logs, hash checksums, resumés, and citations.