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I know there's something here to report, but I'm too busy...maybe you can read and report...
"Last November, the Library of Congress (LC) established a Working Group on the Future of Bibliographic Control (www.loc.gov/bibliographic-future). It’s staffed by leading research librarians as well as executives from key private sector players, such as OCLC, Google, and Microsoft."
There's a pdf of the report and they welcome comments at www.loc.gov/bibliographic-future/contact.) Snail-mail or fax written submissions to Olivia M. A. Madison, Dean of the Library, 302 Parks Library, Iowa State University, Ames, IA 50011-2140, 515 294-2112 (fax).
Interesting notes: "The 19 recommendations in this theme focus on eliminating MARC," and finding some standard for catalog metadata or tagging ("Library data must be usable outside of the catalog").