I have half the time at Microsoft that Paul Vick has, but his observations do ring true for a few projects I’ve heard of past and present
I left Office just about the time that Netdocs really started going, but I do know a few people who invested quite a few years of their lives into it. I can't say that I know much more than Steve about it, but it did get me thinking about other "black hole projects" at Microsoft. There was one I was very close to earlier in my career that I managed not to get myself sucked into and several others that I just watched from afar. None I can really talk about since they never saw the light of day, but it did get me thinking about the peculiar traits of a black hole project.