peterme.com: Points and Lines - User Research Analysis Goodness
Peter Merholz has posted an interesting set of slides from a recent Information Architecture conference where Laura Gray presented her findings from a ethnographic study.
Her research revealed two populations of users using a web site that fits with only one population's needs.
The more I see results like this from ethnography, the more powerful I think it is in building web sites and Intranets that really work.