That’s what Anil Dash is trying to figure out. Subtitle: are they evil?
08/04/01 update: Steve Kangas at Bookmarklets.com has his own Insert dumb tags feature!
06/28/01 update: Much Ado About Smart Tags, but Microsoft drops Smart Tags from Windows XP.
06/13/01 update: more links, contrarian POV.
06/12/01 update: Microsoft Tries To Get Smart (this one is funny).
06/09/01 update: getting his record straight (good attitude).