In a recent roundtable, sponsored by e-Sentio, the topic was mainly focused on workflow. While some of the firms were looking at a few different solutions, many were looking at (or already building) workflow using Microsoft's suite of Windows Workflow Foundation (WWF) and SharePoint 2007.
The popularity of SharePoint 2007 has exceeded even Microsoft's expectations and related technologies are coming along for the ride, with workflow being one of them. Cost, flexibility and the development environment seem to be the main factors for firms looking to leverage their SharePoint investment by building workflow. I've attached the PowerPoints slides from e-Sentio's presentation (with Nestor's blessing) and also attached an article I wrote highlighting some of the issues surrounding workflow development and the merits of Microsoft workflow.
I think that there are many opportunities to gain a competitive edge with workflow, as clearly illustrated in the number of workflow options spelled out in both e-Sentio's presentation and the article. There are also some unique challenges to be aware of in developing workflow and most of them are not technical, if you get my drift.