I've got a lot to say about (quantifying) how people get to blogs and how they move between them (part of the story is graph analysis, but there are other, equally important parts that I'm still cogitating on). Some part of the story is to do with featured blogs. I've often wondered: do featured blogs drive traffic? You can see featured blogs on Typepad and Technorati, for example.
Here is a single data point that suggests that they do work. On July the 6th, Typepad featured a blog called BookBurger. BookBurger uses the sitemeter service to measure traffic, and the details are visible to third parties. This graph, which shows visitors per day, shows a clear and significant peak on the 6th - the day of the feature:
Typepad featured BadHairDay on June the 23rd. Here are the stats:
Beyond the obvious spike, I think the key question is: does featuring bring traffic that sticks? I'm not sure if this question can be answered by looking at a couple of examples like this. It does look like this is true for BookBurger, but not so for BadHairDay.