T5M (The 5th Medium) is an online magazine that merges the worlds of print and video in a very rich way.  It's a good example of how we see Silverlight being used in the future too with a combination of Ajax being used for some parts of the UI and Silverlight for others.  It's the video experience powered by Silverlight that makes the site really come alive though and the large video explorer is something rather special.

For the large video explorer in the screen shot above click the down arrow:

T5M

Silverlight, Application, Website