You may already be aware of Situation Handling and might already be using it. Here is a detailed blog on how to create your own situation template and configure the trigger, display of notifications according to the business scenario.
In this blog I have compiled a list of new use cases for Situation Handling introduced with 2005 by Scope Items and Line of Business:
Hope you find them useful. Have you come across instances where situation templates don't exist yet, but will be very helpful? Eager to know more on this.