I currently use the Safari Microformats Plugin in WebKit and I love it. It's both gratifying to see content that I can extract from everyday webpages into iCal and Address Book, but it also suggests greater possibilities in SSBs.
I had a couple ideas...
On finding an hcard, right click to "Add Contact to Address Book" (like you might when you right-click on a photo and pick "Add Image to iPhoto Library"). Bonus: "Open Contact in Address Book" -- based on URL, name, email address lookup in Address Book store.
Same thing for iCal objects, but "Add Event to iCal".
Make microformatted objects available to Fluid and Userscripts. I think Operator does this for Firefox now, so there's existing code that you code inherit from...