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Linkster, I think you will find that the blogs owned and operated by the big companies will become compliant almost immediately, as they just have to make one software mod and all existing sites will get hit (unless they are not sharing code).
I think that other blog software makers will move towards making their blogs compliant, as it is the "right thing to do" in this very socially aware community.
However, the people who WON"T fix it are the people who are most abusing this situation by creating literally hundreds of private blogs and stocking them with "comments" that are nothing more than links to their own stuff. These people will have no earthly reason to want to shut down or modify their blog pages.
It will probably never go away completely, but it will get reduced... by how much is anyone's guess!
Alex
edited because I keep typing "blob" instead of blog!
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