In Jay Rosen's intro to his pre-bloggercon discussion, he suggested that in a real sense, anyone can do journalism. He also distinguised "professional" journalism from whatever it is bloggers are doing. What you say here develops that point in greater depth. I wish to underscore your point about time and money because both sides of the "journalism/blog" polarity regularly seem to ignore the fact that a highly developed and inherently for-profit corporate infrastructure underlies the institutions that house US journalistic products. Instead of ignoring it, perhaps it would be adviseable to "follow the money" and see how what we think of as the news is related to what we know about corporate profit making.