This paper explores the application of Web 2.0 based technologies in the area of engineering product development. Growing on data collected from a case study in the Swedish manufacturing industry, the paper analyses the dichotomy between the prevailing hierarchical structure of CAD/PLM/PDM systems and the emerging principles of the Social Web, e.g. the self-organization of its users. It introduces the concept of Engineering 2.0, intended as a more bottom up and lightweight knowledge sharing approach supporting early stage design decisions within cross-functional product development teams. A set of scenarios related e.g. to the application of blogs, wikis, forums and tags in the engineering domain are eventuallypresented, highlighting opportunities, challenges and no-go areas.