We're in the process of switching everything over to del.icio.us also. One thing that we've done is to start a central del.icio.us account for our reference department. Now we're encouraging all of our librarians to start their own personal accounts, so that they can quickly refer good links to the main account when they come across them in the course of their work.
Having something like del.icio.us as a place to put links can work really well once everyone is on board. Getting everyone excited about it can take some doing, I've found.
I've been working on an idea to promote a kind of active collection development of internet sources, so that people with subject specialties have a little time to add sites on that subject, tag them, and add notes. We'll see how that goes.