http://news.yahoo.com/news?tmpl=story&u=/adweek/20050617/ad_bpiaw/aolbuildingfreeportaltomakeitscontentpay

http://beta.aol.com/

You will see some changes as we continue to improve this site over the next several weeks. Here are just a few of the features we are currently working on:
A Newly designed Newsletter
Site search

http://beta.aol.com/polls/index.php?

related
http://robfrankel.blogspot.com/2005/06/aols-bubble-bursts-again.html

Their new emphasis seems to be more on multi-media, "audience interaction", and personalized search (AOL Explorer - browser)

Take this example:
Who is the greatest American

http://television.aol.com/greatestamerican
(They will release the TOP 5 vote-getters in a few hours)