Before a story becomes news, it must be distinguished from other stories in the feedstock.
"A" list bloggers, like Scoble, do much the same by hand. Like sifting through gravel for diamonds, it is hard work, but could be profitable.
I like the noise. Why? Because I can see patterns before anyone else. I saw the Chinese earthquake happening 45 minutes before Google News reported it. Why? Because I was watching the noise, not the news.
However, what is news for Scoble is noise for many others. That's why all his stories don't hit the Digg front page. And, perhaps, the Digg front page itself is noise for most net users.
In this ecosystem where bloggers pick each other's stories, book mark them or share them, everyone is a linked as both a producer and a consumer.
Who are the winners in this ecosystem?
Don't know. For now, I'm thinking whether the question itself makes sense.