Found this article with lots of links on blogging. Some good quotes below:
Blogging: “… never have so many people written so much to be read by so few.” By KATIE HAFNER
"By Jupiter Research's estimate, only 4 percent of online users read blogs."
Ms. Quint has grown more understanding of his reasons, if not entirely sympathetic. "The Web's illusion of immortality is sometimes more attractive than actual cash," she said.
"I was trying to record all thoughts and speculations I deemed interesting," he said. "Sort of creating a digital alter ego. The obsession came from trying to capture as much as possible of the good stuff in my head in as high fidelity as possible."
Check out the article here for more on the above taken from footnotes at this site.