Thanks to the public discussion of the next major release of Firefox, currently planned for 3rd or 4th quarter of 2007, it looks like Microformats will take a major leap forward.
An article at the Microformatique blog has a nice summary of the planned features.
Microformats are an attempt to allow applications to talk to each other with minimal human intervention. One could envision that Firefox might support automatic transfer of microformatted data into your requested application. Currently, imbedded links on websites and custom plugins are the main ways to use microformats – technical hurdles that prevent all but the most techincally savvy from using them.