So the rumor is that Yahoo! is working on a Technorati killer (via Scoble). This was mentioned by JeremY! at Open Tech 2005. With Ice Rocket searching feeds with support for tags things are really getting busy in the feed search (tag:feedsearch [Technorati, Ice Rocket]) field. With Yahoo! getting in the feed search game it seems like Google and Microsoft will be pulled in eventually. Perhaps one of them will buy Technorati?
I always figured that Bloglines and Technorati seemed like an interesting merge though.