Google today released a new version of Google Blogs Search that displays the most important stories of the day in a cluster similar to what you have in Google News.
The site is a slight mix of Techmeme and Technorati in the sense that you can get an idea of the all the hot stories from the home page itself and each cluster has a Technorati style chart showing how may blogs are talking about that story.
News clustering in Google Blogs Search
Charts in Google Blogs Search
While this is a great development, I will probably stick with the old and trusted Techmeme as the amount of spam content indexed by Google Blogs Search is way too high. Techmeme indexes only limited sources like Google News and is therefore very clean.