Being Peter Kim: Blog measurement: authority vs. influence
a great quote from the personal blog of Peter Kim, a Forrester analyst:
Now that Blogbeat stats have been merged with Feedburner, there's no need to go anywhere else - and their customer service is FANTASTIC. Again, thinking about influence: these stats give you a sense of (1) new vs. returning visitors, (2) volume of traffic from inbound links, and (3) popularity of outbound links, i.e. what you are influencing.
Speaking of which, if any of my readers want our new Blog Stats turned on, just email me and we can turn it on for you.