Blogging will hit prime time when Yahoo, MSN, and AOL starts offering integrated blog service. Integrated blog service is one that integrates other portal services (e-mail, IM, etc.) with blogging. Blogging will revive personalized portals, add new ad-based (basic service) and fee-based (prime service) revenue sources, provide new contents, and a constructive habit for users.
If this doesn't happen in the next six months, I'll eat my breakfast (I usually skip it :-). When it happens, blogging will go from exciting to mundane quickly.