I just watched the first round of presentations at Demo 2007. I would say that Katie Fehrenbacher summed it up pretty good on her blog:
What is relevant to RIAs?
Adobe presented eBay Desktop to showcase their Apollo platform. Apollo lets you take your web applications and leverage them as desktop installed apps.
Why would you want to do that?
Companies that currently develop with Flash, Flex, AJAX, or HTML can take their existing applications and wrap them as an installable desktop application. This gives them the ability to leverage desktop functionality like toast notifications, file system access, and “occasionally connected” capabilities. To showcase the offline functionality, Mike Downey unplugged his laptop, and created an eBay listing, then plugged his network cable back in and the listing was automatically pushed back to eBay.
effectiveUI had a small mention as the team that designed and developed this application…
You can view the entire presentation here