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Blogging is definitely time consuming. I probably spend about an hour a day on my blogs - researching, writing, maintaining. I guess I could be making a free site in that time.
It is worth it because it suits a strategy. Through blogging I've set myself up as an expert by reporting on news about women and porn, with an occasional plug for products added. Today that's paid off because I got a nice plug for several of my sites on Fleshbot and Scanner. Nice traffic, nice hardlinks.
With the current concern over the devaluing of reciprocal links, a blog is a great way to get those much-needed one way links. But the trick is that you have to earn them, and that does take time. An advertising-rich splog won't get them, unless it's somehow really amusing.
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