I'm normally enthusiastic about new things, but honestly I found it much easier to find deep interesting content back when Geocities was live and Yahoo Directory and webrings existed.

In particular I find blogs encourage a throwaway attitude to content. Almost certainly more information is being written down in blogs now than was being written in people's webspace ten years ago. But webspaces were constructed as a permanent, indexed thing (people even made "site maps" telling you what page was where). Which made them worse for disseminating news or other time-sensitive information, but much better for the "long tail" of information that you now simply can't find, short of trawling through a complete archive.