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OpenSocial is simply a broadly defined abstraction for connecting social "containers" (e.g. platforms that manage a user's activity stream, friends and profile information) with social "applications" (e.g. web apps that manage this data and render inside containers).
In that sense, OpenSocial is exactly what it is designed to be: an "open" standard for social applications (vs. the proprietary standard defined by Facebook).
As to whether the standard is more than "OpenGadgets": anyone can sign up for OpenSocial sandbox access and see for themselves: as of today, the Orkut sandbox has OpenSocial 0.6 implemented and yes, OpenSocial apps exist today that embrace the "social and profile components of a site."
And thanks to projects such as Shindig, OpenSocial apps are going to be running on more sites than people think.
Relatively complex applications can be built on the facebook social graph, the same case cannot be said for opensocial yet.
Glad everyone isn't drinking all the google kool-aid/anti facebook kool-aid