The current version of Internet Explorer, IE 8 browser, very limited HTML5 support, however, IE 9 will support H264 video, embedded audio, proportional vector graphics and CSS3.
Not to mention HTML5 is still in the "experimental" phase but even some of the technologies being applied to browsers and Wed sites are not technically finished.
HTML5 and CSS3 - combined with other Web technologies like JavaScript - can be very useful for the style, format and speed of any website if used correctly. The two languages will revolutionize the way we program and view the internet with all-in-one enhancements, eliminating the need to use many third-party applications (such as Flash).
The above is only a small part of what HTML5 and CSS3 provide. To learn more, you can see more detailed technical information about HTML5 and CSS3.