GeoRSS is a straightforward extension to RSS to encode geolocation, and has rapidly
established itself as an easy and effective format to share maps.
It has recently been implemented by flickr and Microsoft, and open source projects
like OpenLayers. Nice. 
Pretty much officially at buzz word status, as intended.

Beyond the buzz, there are a number of real issues regarding GeoRSS use and the way
forward. 
There's active discussion of support of toponyms, discoverability,and microformats.
Organizationally, how does an open process make its way through 
official standards bodies, and how can consensus be reached with ever greater
interest in, and implementation of, GeoRSS? 
Does GeoRSS provide a model for lightweight "open standards" to apply to other
domains, such as sensor data? 

I don't propose to have all the answers, but want to shine some light on the issues
and keep GeoRSS moving.