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I think it's a great tool, especially after they've changed the GUI. You can now see pagerank spreading (low,normal,high) and some cool crawler stats.
Noticed the bot comming to my site more frequent and new items are picked up much faster. Their 'ping' feature is great.
In my believe Google will use this tool to have realtime data exchange in the future. If CNN publishes an article at 09:00, google will show it at 09:01. But yourpornsite.com won't get any benefits I think..
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