About the question of treating bloggers as journalists, I'm not sure what bloggers really want. If they want to be treated as "legitimate" members of the media, and be granted certain privelages common to journalists, they might also be subject to the restrictions of the media, i.e falling under the purview of McCain-Feingold. The blogoshpere, I think, should be exempt from campaign finance legislation because it's really just a discussion board writ large. Some people are smarter or more informed than others, but it's still a roundtable of equals. As opposed to the MSM, which basically spoonfeeds the news they want you to know and gives you no way to respond as an equal. I'm not in favor of strict regulation of newspapers either, but there's a case to be made for some legislation I suppose. But the blogosphere? C'mon. You can't treat the mighty Fauxpolitik the same as some piddly rag like the WaPo.
But for bloggers to get that kind of protection, I think they'll have to recognize they are not journalists in the same sense as a reporter from the AP.
I'd hear arguments for certain exceptions - Drudge, Glenn Reynolds, Mickey Kaus. Maybe more. But the vast majority of the Pajamas Media ought to be thankful they're not professional journalists and protect bloggin as private speech.