OP here.
I'm doing a masters in functional genetics and protein synthesis. Shit is so cash, but I dislike working with any model organism that isn't at least a eukaryote.
As for drug delivery, I recently read a paper on attaching protein regions to budded baculoviruses to increase their affinity for breast cancer cells. The baculoviruses are used as a method of plasmid vector delivery, which are bits of circular DNA that can contain pieces of genetic code that can be targeted for insertion into the genome of the target cells. Shit is so cash.
I'm mostly interested in genetic regulation though.
http://www.iht.com/articles/2009/02/24/healthscience/24chromatin.php has an article on the more advanced aspects of genetic regulation and their application to human therapies.
Here's one of the more interesting devlopments in genetics and cell biology:
http://www.iht.com/articles/2009/03/06/healthscience/06parkinsons.php
It's an article on converting cells into embryonic stem cells (ie. cells that do not have a set pathway of differentiation) and they're converting the cells into dopamine secreting cells in an effort to combat the onset of Parkinson's disease. Now that shit is fucking cool.