What is blue tooth
Vapor, at the moment. The hype is that it'll be a high-speed, short-range (a few feet!) wireless network operating at 2.4GHz, cheap and small and power-efficient enough to be built into everything from your cell phone to your keyboard to your wristwatch so they can all talk to each other without your knowledge. (WimLewis)
While attending a Cisco wireless talk someone asked the systems engineer about BlueTooth interference and its impact on 802.11b:
We find that we don't really have to worry about Blue Tooth because our products tend to just run right over the signal
I have also heard of a modified BlueTooth protocol (they had some name for it, cooperative maybe?) that listens to the air and attempts to transmit their signal between other traffic, most notably 802.11b frames.


