Web 2.0 and the related Project 2.0 just isn't about social media, it's about being smart and productive. It's not the technology, it's the people and the process.
Tools can implement processes better. Bad processes mean PM 2.0 and Web 2.0 now implement that bad processes faster, better, and cheaper. Tools in the hands on poor project managers, allow them demonstrate their "poorness at project management" faster, better, and cheaper to other in the social web members of the project.
Start and end with good people - technical and managerial.
Give the people processes appropriate to the problem at hand, the context in which to work that problem, and the proper domain in which the solution is being built. Tools for building manned spaceflight machines might be different than tools for building grocery store twitter coupon releases. Duh!
It's not the tool that solves the problem, it's the people and the processes they apply that tool to.
If you've got project troubles, starting with Web 2.0 and PM 2.0 just makes the problem worse if you haven't first fixed the people and the process. The tool is the LAST thing you should look to for the solution.
