My personal experience reflects your observations, but not your conclusions... I'm reading fewer blog posts as a direct result of twitter, friendfeed, and feedhub, but I'm reading 'better'. My reading time is far more concentrated. No more wading through crap (unless I'm specifically in the mood for it, or unless it becomes a sidebar topic in someone's podcast - looking at you Cote :-) ). Almost everything I do read is a recommendation from a human or a machine. I invest time in 'tuning' my 'recommendation engines' by carefully selecting who I follow and by using the 'liked it'/'hate it' buttons in feedhub. As my 'recommendation engines' evolve, I get more confident that I can ignore the rest.
- Andrew Codrington