I've added some updates on my post on Blog Ranking and Popularity, which link to conversations currently happening on this issue, where many are exploring ways to develop more useful and relevant methods to examine linking behaviour in what danah calls the network structure of blogs.  

Then Alok in a comment says:

"Dina, as part of your post to BlogHer, you talked about the role blogs play as social networks. the way i figure it, even within physical social networks, there are always those who are naturally more popular. a watered down effect of darwinism, perhaps. you know who i'm talking about. the people in a gruop who almost always end up figuring out where we're going for dinner. or a drink. or which film we're watching. or where to vacation. i for one don't really question why it is they're popular. i just enjoy their company. and in essence, that's precisely what your blog, or any of the blogs i visit regularly, is. good company."

I like this measure - "i enjoy their company" - maybe someone should use that as some form of index?  There are some bloggers who come up with really 'popular' posts which get linked to heavily - they may be 'popular' in a mechanized sense, but it isn't always the case that they make for relevant reads most of the time. There's value in what Alok says as it may lend itself to a more holistic approach - if someone loves hanging out at your blog, enjoys your company through conversations there, that's the best measure for me.  It is what builds my network and community in ways that are far more compelling than from just links I may generate.

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