http://blog.joerg.heber.name/2010/10/05/great-the-physics-no...
It punctures some of the hype, while still conveying what's interesting.
http://nobelprize.org/nobel_prizes/physics/laureates/2010/pr...
"Playfulness is one of their hallmarks, one always learns something in the process and, who knows, you may even hit the jackpot. Like now when they, with graphene, write themselves into the annals of science."
Congrats to the winners and especially to Konstantin Novoselov who is one of youngest to win a Nobel at age 36.
"Geim shared the 2000 Ig Nobel Prize with Sir Michael Berry of Bristol University, for levitating the frog. His award of the Nobel Prize for Physics in 2010 made him the first person to win an Ig followed by the real version."
Badass. (Even if my physics past wants someone to win something big for work on silicates one day. Dammit, glasses are fascinating.)
But, if you are defining "physics" to mean "fundamental physics"---i.e. new laws of nature--then...
(1) There hasn't been a confirmed theoretical physics discovery since 1967 when the Higgs mechanisms completed the Standard Model (although some might argue that the profoundly new understanding of existing fundamental physical law provided by asymptotic freedom, in 1973, qualifies as fundamental physics even if no fundamental laws were discovered per se).
(2) There hasn't been a non-trivial (in the sense of being both not-easily-predicted by theory, like the top quark, and not trivially incorporated into existing theory, like neutrino masses) discovery in experimental physics since 1973-4, when the electroweak and strong theories were more or less confirmed. (It doesn't qualify as "easily predicted" since there were serious doubts beforehand.)
There are possible exceptions to (2), depending on which experiments you consider to be most important for dark energy, dark matter, and cosmology/CMB. There haven't really been any decisive experiments---only a steady accumulation of evidence. I wouldn't consider any theory related to these three as confirmed.
So yes, the field of fundamental physics is profoundly stagnant.
(This is just the best historical understanding of a myself, a grad student, so I could be wrong or disagreed with by more prestigious physicists. Take it with a grain of salt.)
According to that a price for physics is awarded to both a discovery as well as an invention and this would be the latter.
Just look at several Nobel prizes. The invention of radio, the invention of special gas valves used in lighthouses,the invention of the cloud chamber, the invention of the laser, the invention of the ion trap, etc.
Physics is still very active, but unfortunately we can't be discovering QED everyday.
The Nobel Prize wasn't just for the method of extracting graphene, it was for 'groundbreaking experiments regarding the two-dimensional material graphene'. This includes extracting, identifying and characterizing the material.
Interesting to note, by the way, that the real innovation was in being able to identify (and characterize) the material - the same extraction method was used by another team.
To me, this is the essence of science - observing a phenomena (in this case - a material) and understanding it.
Equating Experimental Physics 'engineering' is a little to 'Sheldonistic' for me.
What are the obstacles waiting to be overcome?
There are a couple of good reasons why so: (i) graphene has a "simple" electronic and atomic structure that has interesting features of its own (Google for the Dirac cone), (ii) graphene flakes are big compared to buckies, so it's possible to study them with common methods that physicists like -- electronic transport, crystallographic methods, you name it, and (iii) many proposed applications of graphene e.g. in electronics fall close to physics.
In short: physicist are fond of simple things, and graphene is simple. So, Nobel prize in physics.