Zack Lynch has a great post on a new company that will erase bad memories. We are treading on uncharted waters with technology like this, but better get used to dealing with issues of the brain. I truly believe that neuroscience is going to provide countless ethical dillemas for us over the next 50 years, and given the current worldview of the average citizen, we aren't ready to deal with them.
UPDATE: Read the comment Zack left. It figures that immediately after my post on intelligence I would turn around and look like a dumbass.
UPDATE II: Looks like there really is a memory supression mechanism. Maybe someday the above scenario will become viable.