Good question: ‘Do blogrolls still matter?’

From a Poynter Online blogger:

I wondered whether updating my blogroll still made sense. In the early days of blogging, the blogroll would show your affiliations with other bloggers and — at least as important — would trigger an exchange of links that would improve your search engine ranking.

But this has changed, as the search engines have changed. Now, I mainly do my online reading via my RSS feed reader; I seldom visit blogs and sites via my Web browser. And when I do, I directly access links to entries that interest me. And I no longer check out blogrolls.

Are you still updating your blogrolls? Do you think it’s useful?