Blogs, posts, and quickview results for the "web 2.0" search yielded a lot of the same results. Of course blogs are made up of posts so there were many more posts than blogs. The quickview tab seemed to give a quick overview of blog posts, videos and pictures so it really was a quick scan of the MOST relevant items in those catagories. I think that of them all, I preferred the "blog" results since that seemed to focus attention on complete blogs related to my search topic.
As for popular searches and blogs... WOW. The things some people will go out of their way to look for simple amazes me. LOL. There seemed to be a good selection of blogs but also results for movie searches and celebrities. I wasn't a bit surprised to find the iPhone as one of the most popular results for blogs and posts. The top videos section was much like a popularity contest for YouTube videos. As long as I can narrow down my searches to the things that I find interesting then I will find that Technorati is a useful tool.
I think that something of note here is that blogs and the tools that catalog them are all written by people like you and I. Much of the articles and news you see on the web in the past has been published by news agencies and other professional sources. The difference between the two is something that I think sets this apart from what we've seen in the past.