Okay David, you're in. if you get an[y] business from this blog referral, I'll expect at least a steak dinner out if it.
I believe in the power of getting mentioned on blogs, regardless if they have thousands of visitors or one visitor a month. I call it "the Power of Yous".
Growing up in Philadelphia my English teacher would disparagingly acknowledge that there is a unique "you plural" in grammatical use, "yous", used in a similar fashion to "you all". There are many benefits that come as a result of you becoming yous, especially in the realm of online publishing.
Introduction to a new audience
Every blog has an audience, whether it is just one dedicated reader or hundreds of readers that stumble upon the article (and don't forget about the site StumbleUpon). Every reader who learns about your site, service or product is a potential customer or a referral to potential customers. They now know about you and might buy your product or tell others about it.
A new article about your site or service
Bloglines, Google Blog Search... there are dozens upon dozens of blog readers and blog news services that monitor or are pinged by blogs and list all new articles that are published. Any new article gets listed on a homepage or topic page that receives significant eyeballs, gets mentioned near the top of published-date-sorted searches, and through the use of tags gets compiled with lots of other related articles yielding even more views for the article mentioning your product.
Search engines and the collective
While one of the most important factors in search engine optimization is the ability to get linked to by highly trusted sources, other factors include the number of sites linking to your site and words they use in the link to your site, and the context surrounding the link to your site. Each article that discusses your site and what its about adds context to your site link and establishes it as an authority on the subject(s). The more links to your site and the more sitelinks you garner with targeted context the higher your site will show up on search engine results.
The moral of the story? Get linked by quality blogs that discuss topics related to your site. Every link to your site contributes to your power of yous.