Oh, sure, they're still in testing phases, most not officially approved...but it's coming. And biotech is an incredibly powerful tool. And, like anything powerful, it remains to be determined how that power will be used, and by whom.
I'm a futurephile, for sure. I can imagine a chip in my own head that regulates seratonin & assorted other stuff, and eliminates migraine. What an amazing wonderful thing that would be! I can imagine the colonization of Mars being made infinitely easier by packing along your handy Vat-O-Meat (which would come, of course, in several flavors...without having to transport, care for or kill living animals). I can imagine air and water pollution being eliminated.
I'm also pretty damned paranoid, and can think of more than a few downsides. Gattaca, anyone? Logan's Run? Terminator? Universal Soldier(yes, I actually saw that. Having seen Bloodsport, I had a crush on Van Damme at the time, leave me alone)? At the same time that I'm hopeful for new advances, I'm horrified at how brutally controlled and controlling such technology could be by the Powers That Are. To be blunt, I trust the government (the current one especially, but any of them, truly) just about as far as I could pick up the Pentagon & toss it. (Hell, don't even get me started on the current political climate or what I believe the chances that we'll have a presidential election in '04 are.)
To continue that earlier thought (on biotech), I say invest in the companies making the progress. We've certainly learned by now that money is power. The only way I know of to direct that power is to be a part of it. If enough people who are watching this stuff carefully are actually investors, then there's a much bigger chance that development and research will go in more positive directions. At least, that's the only thing I can think of to do that might have a chance of mattering.