The hype of blog advertising is sooo 90’s

One of the headlines these days is that one of the Gawker advertisers pulls out of the deal.
NetworkLandscape has a long interview with Jason Calacanis of weblogs.inc, who tells us a lot about blogging and advertising and the merry future of both together.

But, reading about all these ad-eager bloggers I also read an article in clickz which writes about tracking of online advertising in blogs. Not banners, which are easy to track, but also a new form, ads as a post (which come with comments and trackback like a regular post), which are not so easy to track.
Also, aggregators (RSS Feeds) play another role in distorting the overal statistic of page views and ad views. Another concern by critics is, that bloggers simply talk to each other, implying a small total readership in the blogosphere overal.(via)

I think, the total readership is far from small (27% of the US population reads blogs), so this implies also a multiplier effect any piece of info experiences. And this exactly the reason for all hype around blogs over the last couple of months and years (depending on which country you live in).
But: Even though there is a hype about advertising with blogs in various forms, this has not yet reached anywhere near standard-procedure. So it reminds me of the „good ol‘ days“, when everyone who majored in HTML+Homepage thought they can build an empire based on selling advertising space…