I would like to give you a detailed report on the state of blogging today.
But such a post from me would be redundant since David Silfry, the founder of Technorati, who knows so much more about the subject is writing just such a report, and he's got spiffy graphs too. David is in the midst of a multipart series of posts presenting up to the minute statistics about blogs and analysis of what the data represents.
Check out the reports on his blog, Sifry's Alerts.