I am putting together some technical requirements for our web developers and I'd like to be able to delivered targeted content lists on the site, through a variety of mechanisms, including inline lists, feature lists, and bottom of page lists. We talked about having content editors do this through span tags but that seems too complex. Can the developers code this through the taxonomy so that only certain content appears on certain pages?
It sounds like you'll need some sort of CMS.
Most CMSs have taxonomy built in straight out of the box.
Check out Drupal or WordPress.