mitch joel has some expanded thoughts on why you need to invest in social media & disagreement over the life and/or death of blogging. he has rooted some great thinking lines.
It sounds like we're back to the relationship over the immediate sale.
Cut-rate journalists and underground marketing campaigns now drown out the authentic voices of amateur wordsmiths. It's almost impossible to get noticed, except by hecklers. And why bother? The time it takes to craft sharp, witty blog prose is better spent expressing yourself on Flickr, Facebook, or Twitter...
"Don’t blog to get known, blog to be knowable."