In technology, the diamond is a dream material. It can make computers run at speeds that would melt the innards of today`s computers. Manufactured diamonds could help make lasers of extreme power. The material could allow a cellphone to fit into a watch and iPods to store 10,000 movies, not just 10,000 songs. Diamonds could mean frictionless medical replacement joints. Or coatings — perhaps for cars — that never scratch or wear out.

http://www.usatoday.com/tech/news/techinnovations/2005-10-06-man-made-diamonds_x.htm