As someone once said, the good thing about standards is that there are so many to choose from!
Developers building sophisticated applications around web services need to be familiar with many standards. Right now, savvy developers need to know something about SOAP, HTTP, XML, and perhaps XSLT.
As the clients and services become more mission critical and more sophisticated, a number of new standards are cropping up. Collectively, these are often called WS-* or Advanced Web Services. These services go by names such as WS-Security, WS-Trust, WS-Privacy, WS-Federation, WS-SecureConversation, and so on.
To learn more about these services, consult the Pocket This Decoder for WS-Alphabet Soup.
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