ws-* specifications have generated a lot of buzz in the industry. So has the SAML community. There is lots of convergence between the camps. Then there is CardSpace from Microsoft that relies heavily on a number of ws-* specifications.
A notable project that I am keeping my eyes on is the Project Higgins project that provides some mechanism to do things in a pluggable and a generic way.
Another link for higgins is:What's the scoop?
By the way, a nice post from Jason Greene about signing/encryption stuff with ws-security implementation in JBoss Web Services here:
ws-security keystores and trust stores
Here is an interesting group of people working on the Identity Meta System called as "Identity Gang".