Mark, have you been reading the traffic from the Blogher conference? The attendees are furious that Technorati's Top 100 is largely dominated by blogging powerhouses who have built up their troves of links over years. Their foothold in the Technorati list bolsters their dominance--and tends to keep newcomers out. People like Mary Hodder are calling for a new rating system, perhaps one based on social relationships. In short, another algorithm.
My proposal: Help to bring traffic to your Icerocket search engine by establishing a different ranking system. We do this type of thing in the magazine biz all the time. Early on, Fortune had its 500; we created the BusinessWeek 1000. A different list, a spotlight on different companies. That's what the blog world needs, and you're positioned to provide it.