Very interesting cover story in the August 2008 issues of BusinessWeek titled Beyond Blogs. This is actually a follow up piece to a BW story done in 2005, blogs will change your business.
Blogging is an interesting thing. It can in cases like The Huffington Post develop into an actual news source and in other cases can be simply the stereotypical "guy in his basement". What's important for those who do spend time blogging, it has to be interesting to do. From there, some may achieve fame and fortune, but most will simply spend some free time doing something they find interesting (hopefully).