When you find an interesting site or blog, simply cut-and-paste the URL into the Technorati sidebar, and get an up-to-date list of blogs that link to that URL. It's like getting instant reviews and commentary on what's going on on the web.
Brilliant. Think "authority gauge".
Consider this:
A blogger writes an entry about subject X. 100 people read it. 10 of those people link to it from their blog. You come along and see this entry. You want to know what degree of credibilty it has ("authority"). By using the Technorati "Cosmos" service, you can see the 10 links that previous readers established.
Granted, a link is non-qualificative: i.e. a link doesn't mean the linker agrees or disagrees. It is up to you to follow th elink and see what the linker thinks. This analoguous to any healthy social system where you learn with experience. Consulting others' expepriences ads to yours, etc... It's very organic.
It's aliiiive!!!