If I mark up the address on my contact page... who cares? I've already got a map next to it anyways, and the business can already be found on Google Maps. And it's not like it's going to improve my PageRank or inbound links or anything. I see zero evidence that a marked-up address will bump me up five spots in Google for keyword searches.
And correct me if I'm wrong, but any mobile browser that will let you click on marked-up phone numbers to call them... will auto-detect phone numbers as well, no? Figuring out what's a phone number is not a hard problem, and false positives aren't really a big deal.
I'm not saying microformats are a bad idea in theory. It's just that they haven't taken off because there is no clear payoff for most people, neither programmer nor consumer. This article certainly hasn't convinced me of any. Maybe someone here can explain if there's anything I'm missing?