Web 1.0 is a synonym for the world wide web and a term majorly used during the dotcom bubble in 2001. I personally know web 1.0 as web-as-information-source. The web which provides only information and where the interaction with the end user is not of major concern.
Web 1.0 is majorly used for static pages where the presentation of content is of major concern, e.g., company websites, client-server interactions and personal pages (e.g., in geocities). It is still used for solutions where the targeted market is dial up users. Even today, almost 60-65% of internet population are familiar only with web 1.0. In short, web 1.0 was majorly for reading purposes. This means that web 1.0 was for few, which was a major challenge for world wide web.
Looking from the technical perspective, Web 1.0 solutions requires no or very less scripting. This implies that simple HTML and image editing skills are enough for web 1.0 development. Web 1.0 uses the webstyles used before the advent of Web 2.0.
Suffix 1.0 appended to Web 1.0 implies that while the term was coined, people were looking for a more advanced and useful web ahead. This web ahead is nothing but now popularly known as Web 2.0.
Some useful links:
http://www.yvoschaap.com/index.php/weblog/rip_a_tribute_to_web_10/
