An over-loaded RSS feed, or being subscribed to too many mailing lists has an effect similar to what PG is talking about in his "stuff" essay.
George Carlin had similar thoughts:
"A Place for My Stuff" http://www.youtube.com/watch?v=MvgN5gCuLac
What keeps me coming back to HN is my ongoing curiosity of how technology is evolving. (And also a slight paranoia of another hacker publishing exactly one of my side projects before I do :) I enjoy being engaged with other like minded strangers. And I believe this place helps you better predict, even appreciate the direction of technology.
Just so long as you have balance and it doesn't keep you from actually getting things done. As for the article's point, I do agree. Doing something is immeasurably more beneficial for you than reading about it.