lucas8, you're sort of on the right track. However, Web2.0 can be any color, font, or logo.

Your outline is correct as far as the typical standard is concerned though. But getting away from "typical" is what creativity is all about, and Web 2.0 is about altering the experience the user gets, not limiting the creativity of the designer.

There are some points to respect to obtain a web 2.0 style:

1. Simplicity
2. Central layout
3. Fewer columns
4. Separate top section
5. Solid areas of screen real-estate
6. Simple nav
7. Bold logos
8. Bigger text
9. Bold text introductions
10. Strong colours
11. Rich surfaces
12. Gradients
13. Reflections
14. Cute icons
15. Star flashes