In short, Orbited is a COMET based "Web Server" providing an interface between Web Applications other more traditional types of TCP connection. For example, Orbited can be used to deploy a "pure" web interface to an IRC chat room, without the need for a messy client side Java or Flash application. See an example here
orbited.cnf is found in /etc/ and is the default configuration loaded when you start Orbited.
Orbited will probably be running on Port 8069, simply because it can. It'd be nice if we could daemonize it.
It is currently running on mara and started from /etc/rc.local.
Compsoc are currently using Orbited to maintain a web interface to their IRC chat room. Rumours have circulated suggesting that this is part of "Oli's strategy to get more Women on IRC". Oli would probably agree.