I like the inline discussion threading, instead of just seeing the portion being replied to...so nice to have the full context and being able to go back and reference the original post along with other replies while you are composing your response.
It may not be as glamorous as Microblogging, but so useful.
p.s. Also, I know people will love being able to mark blog updates as minor edits so as not to send email notifications when making corrections...
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