This post from Molly about HTML5 and the W3C, and the resulting comments, illustrate very well why the process of making or improving standards is so ugly, and why I don’t participate anymore. Discussions are dominated chiefly by people who have time to dominate discussions, which over time includes fewer and fewer of the people who actually should.
Open Source has the same problem and can usually survive it through things like rapid iteration, plugin systems, benevolent dictators, and easy forking. However I don’t know if those concepts could be successfully applied to a standards process, almost by definition.