Having looked into our fields' history -- most of the real exciting stuff (new) happened in the 60s, 70s and 80s. I'm not the only one but many other prominent members of our field also express that nothing new has been done for ~30 years. Some really exciting stuff I have come aware of: Timesharing, the internet, Smalltalk, Lisp, designing hardware for software, different methods of programming, tools to enhance our understanding of science.
At first enthused about browser/server web applications (using rails framework) -- I find completely dull, and now feel to constrained by the browser and the server interaction. Working with squeak I find I just want my computer too be squeak and build off that.
(caveat: graduated 4 years ago)
http://www.scottaaronson.com/papers/philos.pdf
http://www.ccs.neu.edu/home/jmitesh/Mitesh_Jain_files/draft....
http://theoryofcomputing.org/articles/gs001/gs001.pdf