In a PAW project discussion of writing assignments for WWW2006, KR, etc., I asked that we use XHTML rather than LaTeX to collaborate on the papers.
The WWW2006 deadline is too soon to make the transition, but I took the source of one of the papers in development and translated it to XHTML in order to test my Transforming XHTML to LaTeX and BibTeX tools. Since the tools have only been tested on one project, of course they needed some tweaks. And they'll need some more for figures.
But I'm hopeful that it'll be cost-effective to do things this way.
Meanwhile, there's a cite-formats discussion in the microformat community. My work includes a microformat for bibliography stuff. I haven't figured out URIs for the properties nor converted it to RDF just yet, like I did for my old index of URI schemes and like we did for automating publication of W3C tech reports.