I love the idea of Weblogging.  I did not know what it was until I read about in our book, but I loved the idea.  I guess it can be a little like MySpace but in an educational way.  Teachers can use it for students to comment on the story for the week in Reading.  As one of the articles mentioned, students can talk to other students, not just down the hall, but in another school, city, state, or country!  A great benefit is that teachers get to view the material prior to it getting posted.
I also liked the idea of having students' work posted for others to read and even allowing the parents to view the work.
Teachers can keep their own journals.  They can write down things that went well with a lesson as well as things that did not work out too good.  Teachers can communicate with each other and maybe share ideas or projects.
Personally, used correctly, Weblogging can be a great tool inside the classroom as well as out of the classroom.