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Glyn Moody of Netcraft writes about weblogs and wikis, and has some insight:
In a sense, the Wiki is to the blog what open source is to proprietary software: a communal effort where group dynamics rather than a leader's fiat determine the end-result.
[...] the main strength of Wikis [is] a depth born of multiple authors working together to hone material. This contrasts with the blog, which shines in its ability to offer one person's quirky and brilliant insights across what may be a vast and often contrasting spectrum of subjects.
Frank Catalano (via Buzzworthy) tackles the continuum that lies within blogging itself, with some pithy observations:
Blogging-as-journalism and blogging-as-conversation are two ends of a continuum, with many variations as you slide from one end to the other.
Pro-blog partisans like to say that the number of people reading blogs is more than the number of people watching CNN. Sure. And the number of people reading weekly community newspapers is likely greater than the number of readers of the New York Times.
I also suspect (hell, I know) I'd have more readers by just submitting some of my ramblings as a letter to the editor in Pocatello, Idaho.