I just watched "The Golden Compass" last night, a children's movie that includes a number of Steampunk elements: floating airships, clever golden mechanical devices, old-timey outfits. 

Why, you haven't heard of Steampunk before? Then look no further than this awesome slide show [1] on the New York Times. My favorite is what they've done with the flat screen of a computer. [2]

Combine Victorian stylings with modern attitudes and applications and you've basically got ingredients for Steampunk.

For the record, I'm in favor of any fashion trend that will allow me to wear a monocle.