In this paper we review basic research on widegap semiconductor microcavities that has shown how the fundamental features of IT-VI-based quantum well heterostructures can give rise to enhancements in the light-matter interaction due to exciton-photon coupling effects. As these effects have been seen to extend into the regime of stimulated emission and vertical cavity lasing, they are of potential practical interest for the nitride widegap semiconductors as well. A major question for the II-VI semiconductors is whether a combination of lower dimensional gain medium, together with innovative microresonator design and excitation scheme can lead to an efficient, low current density, and practical green coherent optical sourer.