Jeffrey Perkel at Biotechnically Speaking has a great overview of a recent paper in Nature Methods (see also coverage at GenomeWeb).
The study in question used second-generation sequencing (with the ABI SOLiD system) to peer inside a single cell isolated from a mouse embryo. By sequencing the messenger RNA (mRNA) produced by the cell's genome they were able to generate a high-resolution snapshot of the genes switched on by the cell.
Isolating and analysing RNA from a single cell is no small technical feat, and although the technique still has its limitations - for instance, the technique can't detect certain RNA molecules (e.g. those without a poly(A) tail) and it's currently unable to discriminate which DNA strand the gene is expressed from - the results provide a far more comprehensive picture of gene expression than the array technology that has been the workhorse of gene expression studies for the last decade.
This is just a taste of the power of new sequencing technology to provide insight into fundamental biological questions. Here's Perkel:
The technique offers even greater potential for small organisms where development is very tightly constrained (e.g. the worm C. elegans): here it would now be possible to build a near-complete and quantitative catalogue of the genes switched on in every cell at each stage in development. This is very cool stuff.