Unless you are ready to get your hands dirty with the semantic side of search, I would focus on creating a more enjoyable and emotionally appealing experience for a particular demographic of consumers. Maybe teens, students, mothers, whatever...focus on building a loyal, targeted user base. Otherwise you run the risk of just being a couple cool features that the big boys can use as inspiration for their own work.
PowerSet comes to mind. How hard was it to do what they did? (I know nothing about semantic search with the exception of what it is.)
One evidence of its complexity is PowerSet itself. PowerSet launched with just being able to search Wikipedia. Wikipedia is a highly, highly structured body of text that is much, much easier for NLP and semantic technology to analyze. Taking the same technology to the garbled soup that is the web is a whole different ballgame.