having never played with it I am tempted, I think a webserver might be a could project for it.
Most people focus on Erlang as an easy way for multi-core/multiprocessor and distributed computing and it is wonderful at that, but the core of the language is a pattern matching engine that is simply amazing.
Also, anyone who thinks that Erlang is slow with regular expression should convert the regular expressions into a binary and try some pattern matching. That tends to be more of the Erlang Way of doing things ...