Here is a post I made to a forum discussing this season's episodes:
I have an idea that the island is actually Atlantis (remember the 3 toed statue & now the fact that the islands may be invisible) - being covered up by the government. The interesting thing is that the magnetism of the "crash site island" may have been interupted and it is possibly visible now.
I suspect the black smoke is something similar to "the id monster" from Forbidden Planet and possibly the undoing of the original Atlantis inhabitants just as they were on Valarathon 4 in Forbidden Planet.
ALL of the backstories are tied together - there is a calculated reason why almost every person from the plane is there. It is my belief that there is a plant at the Australian airport where they departed that places people intentionally on planes and the planes are intentionally routed over the islands.
The back stories are all very important. What great writing each of them has been, aye? Ana Lucia (killed off) is tied to Jack's father, which is central for the reason Jack was in Australia. Eko (also killed) is there to add drama - ie introduce the polar bear and explain that the cage that Sawyer is in + explain some of the monster noises. It also shows that possibly the smoke monster is a hallucination and ties that into drugs and the supernatural - but my suspicion is that it's real. (see above)
The Hanso Foudation is more of a web phenonmenon to get interest in searching the web to find out clues about the show ... there are dozens of websites registered by Disney/ABC. Just type "Hanso" into Google and see what I mean. You have to have a lot of time on your hands, but you'll discover that Hanso - is A) a bureaucratic paper trail for a government cover up of military technology B) Still known to the government and NOT a failed psychological experiment
Now, what does a paper trail and the word Hanso remind you of? Hansel and Gretl perhaps and a bread crumb trail?