Dave Sifry of Technorati has a deep and fascinating analysis of the current state of the blogosphere up.
This analysis is very telling. Aside from the continuing massive growth in blogging itself (100000/day, doubling every 263 days, 57 million blogs tracked by Technorati), of particular note is the apparent growth in maturity of blogging as a legitimate source of news – 12 blogs in the top 100 trafficked media sites, three in the top 50. Also, the fight against splogs seems to be going well as Technorati’s algorithms improve.
Frankly, the whole analysis is fascinating. If this whole people-driven media thing excites you at all, read the post.