This article in the New Yorker describes how literary agent-to-be Kate Lee finds new authors through their blogs.
Lee spends the majority of her workday in the manner of any agent-to-be: reading manuscripts from the slush pile, vetting contracts, negotiating rights, checking her boss’s voice mail. But she spends approximately an hour each day reading blogs. She scans a dozen first thing in the morning and keeps tabs on another twenty-seven throughout the day, though any of these may lead her to countless others.
As if there weren't enough distractions for writers or additional skills to learn, now you have to remember that a healthy and engaging blog might feature as a possible avenue to publication.
Having said that, though:
[Kate] said she wanted to make it clear that, while she loves her bloggers, and has faith in them, it can be difficult to get them to be productive. “They all have day jobs,” she pointed out. Writing anything longer than a blog post is a commitment they don’t always seem up for.
Read the rest here: http://www.newyorker.com/archive/2004/05/31/040531ta_talk_radosh