The Pondering Primate writes:
Web 2.0 is, or occurs:
1. when a physical object or location is able to retrieve or deliver information from the Net
2. when the Net allows you to retrieve information from ANY physical object or location that is remote from you.
Web 2.0 is about retrieving and delivering realtime information through the Net from another dimension. If you look at the hottest sites, the ones getting bought out by the major players, they are all providing static information.
It will arrive when Internet connections to any electronic device are as prevalent as electricity.