oEmbed is notable for its part in Facebook's share/status update features...from just a URL for a given page, the correct content can be extracted and displayed directly. Probably tumblr, et al use it as well, though I am not certain.
Async previewing of the detected links before sending would be nice (which is, imho, the nice thing about Facebook status form)
Good work nonetheless, I'm looking forward to using oEmbed through embed.ly soon.