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Would be cool to integrate this into a Twitter news/meme app ... ala YC RFS3
could be cool but it looks like they're only releasing a tiny amount of data to start with as a sampler... somebody needs to tell them about wikipedia
The terminology is still a bit in a flux: The practise is usually called just Linked Data, and it builds on the Semantic Web technologies. The goal is a Web of Data that interlinks with the current Web (of documents). The W3C community project for publishers bootstrapping this web is called Linking Open Data.

Sound bite: Linked Data is the Semantic Web done right, and the Web done right. —Tim Berners-Lee

Recent academic review article: http://tomheath.com/papers/bizer-heath-berners-lee-ijswis-li...

My Linked Data related projects: http://irc.sioc-project.org/ (irc logging) http://smob.sioc-project.org/ (microblogging), http://fenfire.org/ (Linked Data browser/editor GUI) http://github.com/tuukka/arc2-starter-pack (app template)