Richard Rutter of
Fontdeck gave a great talk on the future of web-based typography at SxSW 2011, detailing the coming support in CSS3 (which is apparently part of HTML5 now? I’ll talk about that tomorrow) for ligatures, alternate character sets, and improvements in spacing.
He’s generously provided his notes to the public which include all the slides and information he presented. If you’re interested in where type’s headed in the very near future, download these PDFs and keep them as part of your library.