Feedster's launched a new monthly list of the top 500 blogs, based on "a ranking of the blogs with the most inbound links over time, " blogs with posts in the last seven days" and the removal of feed-driven aggregator sites.
No blogspot or live journal blogs. Waahh.
Some surprises--their top 5 range from Engadget to deviantART.com, to BoingBoing to Albino Blacksheep, DailyKos and Now Public.

The list is surprising-but should make for interesting reading. In light of all the current discussions about lists, it's amusing to get this new one--but refreshing that it seems to have a (slightly) different squew.