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You are right that blogs existed before the term Web 2.0. I was running blog like site a full year before I realized it's a blog.
Web 2.0 is not about new technology. It's a new concept of "semantic web" and since blogs fit perfectly in this category, it's safe to say that blogs are part of Web 2.0.
It's just like saying Flickr is nothing new since Google images done it a long time ago. Or Technorati is nothing new since Yahoo did it years ago.
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