the word clusterfvck should be appropriate for work
agonize about something might be too severe.. i'm not sure.. i've never heard of faffing about, i'll pay attention to the USA and UK guys to check if they use it
i guess with geneuzel, the important thing is that it's about nothing really important, but everybody wants it to be good before moving on to the next point. so there's a discussion, and after about 10 minutes people start getting up and go get coffee or go on a potty break, and when they come back it still isn't solved and everybody gets really fed up. i usually stick around to watch the fireworks.
the groupthink link is very interesting and applicable to IT organizations-- in fact, it's exactly what's causing "desert island" behavior in IT organizations.. like the server management guys vs the help desk.