Fuel cells are red herrings when it comes to a true benefit. Their cost, the cost to generate the hydrogen, and the energy/pollution load leaves you in the red. Water out the tailpipe is nice, but getting to that point is no real gain.
Alcohol too has the same problem. Sounds good on paper, but the net benefit is far less than what is needed to make any real headway into weaning ourselves from oil. Too close to robbing Peter to pay Paul.
Hybrids are making good progress, and with battery technology advancing the way it is, there's a renewing hope in electrics. It'll be interesting to see how GM's new Volt fairs in the market, and how it actually performs.