Why Web Standards Matter
In addition, Jakob Nielsen has posted an interesting piece on standard elements in web design. His recommendations include several conventions, like always placing a logo link to top-left corner and the search box to top-right corner.
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Current web design trends
Web Design from Scratch has a pretty good analysis of the current style in web design:
Make the web editable
contentEditable is the HTML5 feature that enables rich text editing on web pages. The original web browser that Tim Berners-Lee created was also a web editor, and contentEditable brings this possibility to all browsers.