Its interesting that every time there is a sudden news event, like today's blackout, that bloggers who take it upon themseves to cover it do so by continually revising their first post. Not by making new post after post. Very wiki-like, something weblogs are not supposed to do according to some definitions.
Reason being, covering an emerging event before significant context is available shouldn't be done with permanent chunks of text. Those chunks could be referred to out of context.
During the initial SARS crisis, a complex event with uncertain context, the Wikipedia SARS page became the best source of information for many. Living pages perform well when sources are evenly and disparately distributed -- and information is turbulent.