That's why I really love Twitter. Yes, it's a social networking site, but it's also a blogging platform in its own right. Actually its not unlike Blogger -- but on a smaller, faster scale. So you can still record your thoughts on any subject and have them read by others, and thereby get the same sense of enjoyment out of the process, but with far less time and effort expended.
And unlike with traditional blogging, the social networking aspect of Twitter enables you to gain many times more readers at a much faster pace. So you can achieve a similar level of influence in a much shorter space of time.
For these reasons tweeting can actually completely supplant blogging. And I think it does for a lot of people.
Nonetheless, there's a lot to be said for maintaining a blog. You can explore a subject and express your thoughts much more thoroughly in a post of several hundred words than in a tweet limited to 140 characters. That's why so many tweeps keep their blogs going.
Foe these people, Twitter is an extremely useful complement to blogging. Once you have a decent following of people who share your interests, you can tweet each and every blog post and draw a substantial amount of extra traffic to them. It's a bit like having an e-mail list in that regard.
And as well as Twitter being microblogging in the true sense of the word, it can also be seen as pre-blogging. Each tweet expressing some thought, observation or tip can be expanded into a more comprehensive, nuanced article that you can then publish on your blog.
For these reasons alone I think Twitter is an excellent content creation and promotion tool. Just as any webmaster would be mad not to have a blog as part of his website, any blogger would be crazy not to be active on Twitter!