At the moment the focus seems to be mainly educational and artistic. It looks like they're struggling getting more research type projects going but there is certainly a lot of potential in the community which I hope will lead to good things.
You may already be aware of it but if you're interested in biology/medicine you might want to take a look at http://hackermed.com/ as well which kyro is trying to get going. Only just started so users and content are lacking but again hopefully good things will come from it.
Or iGEM: http://2010.igem.org/Main_Page
If neither of them perhaps DIYBio could point you in the right direction: http://diybio.org/