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The *one* little bit I'll take a minor issue with is: "You have to launch a blog, join Twitter, get your profile up on Facebook and any other social site and become active." Specifically, "You have to launch a blog." Both my own company and many of our clients feel like they have to have a blog. But, increasingly, it seems like a number of the smarter minds in the world of social media are pointing out that: 1) DON'T have a blog if you're not "ready" to embrace social media, and 2) there are scads of ways to engage (to even "be loud and proud") without a blog.
I'm increasingly finding myself mounting a soapbox telling people to NOT launch a blog until they've been engaging in the blogosphere in other ways for a month or two: read other blogs (and comment!), Facebook, Twitter, and the catch-all "any other social site."
When you start finding yourself leaving comments that go off on tangents -- but that you feel are making good, somewhat original points -- and that's happening a lot, then you might be blog-ready.
Other than that, I love the summary!
The thing is, outside the deeply concentrated SF and possibly Washington areas, is it really picking up steam? Here in Toronto, there hasn't been a wave of it yet, although it would take off if it had the right marketing.
I'm wondering if Facebook will release something similar. FB Mobile already sends your messages to your phone as texts... Hmm.
Being one of those who just recently took the leap into "interactive waters" I have to say I wholeheartedly agree. You can't really understand it until you become a part of it.