Is OAuth a New Concept?
No. OAuth is the standardization and combined wisdom of many well established industry protocols. It is similar to other protocols currently in use (Google AuthSub, AOL OpenAuth, Yahoo BBAuth, Upcoming API, Flickr API, Amazon Web Services API, etc). Each protocol provides a proprietary method for exchanging user credentials for an access token or ticker. OAuth was created by carefully studying each of these protocols and extracting the best practices and commonality that will allow new implementations as well as a smooth transition for existing services to support OAuth.
An area where OAuth is more evolved than some of the other protocols and services is its direct handling of non-website services. OAuth has built in support for desktop applications, mobile devices, set-top boxes, and of course websites. Many of the protocols today use a shared secret hardcoded into your software to communicate, something which pose an issue when the service trying to access your private data is open source.