I've been busy using the Moshe's organic groups module to make a 'group' feature for my site. But finding that it lacked some features I needed, I ended up pretty much forking it and creating my own module. Called 'groups.module', I'm afraid, for those worried about a potential nameclash if I ever submit it as a contributed module.
http://beta2.postcarbon.org/groups/example
... shows it in action.
On top of the organic groups module, I've
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1. Added three new content types: group events; group news; group pages. I chose to do this rather than using existing content types, or even flexinode, because it enables more control, the possibility of extra custom fields, and most importantly the ability for groups to exist within a larger site, and the main site admin can edit 'pages' which appear in the main site, whilst a group coordinator/manager can only add pages within their site. For the 'group page' content type, I've added the ability to order those pages when shown in lists.
2. Done a lot of work with blocks the module generates. Added a new block 'group header' which appears at the top of the page (not in a block down the right or left). Added a block which lists 'group pages'. And edited the 'group details' block so it shows 'group features' which I think is more user-friendly.
3. Made the groups' home pages more rich. I've added a body field to the 'group group' node type, which acts as a kind of introduction to the group on the group home page. Below that, x number of group news node teasers are shown, with x number of group events and forum discussion topics by the side in a box.