Google, Yahoo, and Microsoft announced a joint effort to help reduce duplicate content. The three major search engines came together to allow users to point out their preferred version of a url. As Matt Cutts explains in this video, this format offers users more control.
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Nice video. I liked the girl in it. Matts interesting to listen to. In truth, I build mostly microsites in SEO. So this tag isnt that important to what I do. But its nice to know whenever you get a tricky situation with your SEO on a large web site with a database.
Here is my dream. I wake up and the top story on CNN is "Matthew Cutts was cut today". Google said that they had to make some Cutts. Larry Page said "I like Matt, but we were not on the same PAGE."