Dave Winer points out on Scripting News why he disagrees with David Weinberger when he says bloggers are not journalists. I'm very glad I watched the video post that started off the most recent round of this question. As Weinberger's post hits the nail on the head.
Too many folks who get wrapped up in this question seem to think there is a special aura that goes with being a journalist. That the title is a lofty one. It is a serious profession and it is filled with honorable people who work hard, in much the same way that many professions are.
As Weinberger points out there are a handful of journalists who blog. There are also many bloggers who have moments of journalistic greatness.
Bloggers are, by and large, story tellers. To say that anyone who has a blog is a journalist is like saying everyone who tells a joke is a comedian. Journalists are a group of people who work, primarily, at telling the story. They share many traits with bloggers who are mostly not journalists. Bloggers are, by and large, from walks of life other than journalism. They are people who like to write, tell stories and communicate information. But the true value in blogs is that they are written by the people living the story not an objective outsider looking in with a degree of disinterest. Journalists should be as concerned as Jay Leno is about uncle Bob telling good jokes at the birthday party. I don't think it really concerns Leno that there aren't going to be any open dates in Vegas.
Weinberger hits the sweet spot when he says that in the future blogging will be done by the people who are living the convention, who are seating delegates, who are attending. These are the blogs that will interest and inspire people. Until the bloggers stop trying to beat up the 800 pound gorilla in the corner (and most thankfully have) and focus on what new and different things can come from it they will continue to struggle for their "place" in the order of things.