Nice summary of 2009 emerging trends for HR technology. I think these trends will continue to play out over the next few years. However, the nuance that does not get enough attention is analytics. When you look at what is really driving success (will drive success) at many of the vendors mentioned, it is how they are using the data that they capture in those solutions to provide value to customers.
Great post by Thomas Otter (@vendorprisey). The way I think about it is "begin with the end in mind". All transactional applications should start with how you want to use the data, not capture it and what problem(s) you are trying to solve for the user.
Tying HRM (or HCM) initiatives (and) metrics to business outcomes is extremely important. I would tweak what Naomi discusses here in two dimensions. First, I think it is "Relative" TCBO. HCM is not the only thing impacting business outcomes. Second, one needs to understand how correlated or causal a specific HCM intervention may be to impact the business outcome (this helps you understand the likelihood of achieving the outcome).
Another great post from Thomas Otter. I would add that you have to think about data entry in the context of processes (formal and ad hoc). Just providing a data entry screen to capture data is often not enough, especially in a Web 2.0 world.