David Sifry, Technorati's CEO and founder, just published a series of State of the Blogoshpere posts.
Technorati was tracking over 14.2 Million weblogs, and over 1.3 billion links in July 2005
The blogosphere continues to double about every 5.5 months
A new blog is created about every second, there are over 80,000 created daily
About 55% of all blogs are active, and that has remained a consistent statistic for at least a year
About 13% of all blogs are updated at least weekly
Wow. Simply amazing growth and well worth watching as investors and business people.