Five proposals were selected for the 2005 Phase II studies, with the performance period from Sept. 1, 2005 to Aug. 31, 2007:

- Redesigning Living Organisms for Mars
- New Worlds Imager
- Microbots for Large-Scale Planetary Surface and Subsurface Exploration
- Investigation of the Feasibility of Laser Trapped Mirrors
- A Deep Field Infrared Observatory near the Lunar Pole

source: http://www.spaceflightnow.com/news/n0510/15advanced/

I like this list. Although I'm not confident in the ability of a "micro" bot to do anything "large-scale", the other ideas seem to have some hint of reason. Particularly the telescopes. It would be great if there was a telescope that could image large animals, or detect movement, on terrestrial planets 1000 lightyears away. Also, maybe a dedicated telescope for resolving high-redshift galaxies at the edge of the visible universe, and determining if they are globules of hydrogen, or fully formed disks. And the laser-trapped mirrors idea sounds interesting for supporting extremely large gossamer mirrors with standing waves of radiation. Of course I'm expecting too much.