Via Axel Bruns, word on an Australian report on social media that he co-authored:

“I’m very happy to say that our first report for the Social Media project at the Smart Services CRC has now been published. Written with my research assistant Mark Bahnisch (an expert in the field in his own right), this report provides an overview of the state of the art in social media,and focusses especially on the dynamics of user community participation in social media sites; as part of this, we’re also looking at a number of leading social media sites (and one or two ‘interesting failures’), particularly in three key areas: news and views, products and places, and networking and dating.”

The report is already available here.

See also the Executive Summary.