Speaking of newfangled OpenType variable fonts, this Decovar “modular parametric control display font” is a nice example: a typeface that has an absurd set of elements that you can control programmatically, essentially creating a “skeleton” typeface with a large spectrum of embellishments (the terminals, the strokes, the contours are all adjustable, but still looks good by blending together smoothly).
Typography might be undergoing a revolution in the next few years!
Oh my, yes. The Firefox team has an experimental specification for making use of the advanced features of OpenType and AAT, possibly through the CSS @font-variant property. This could get hairy rather quickly and I have to imagine it’d be tricky to write out the full description by hand, but the typographical goodness would be hard to pass up. Be sure to check out the hack.mozilla.org page about this to see some nice preview images.