I've been ranking all my blogs... well, most of them little by little, in FeedDemon by title, renaming the titles 0-5.
My important front line reads are 1's. This includes Fred's blog and Rob May's Businesspundit.
My 2's are solid. They fill out the rotation with quality... but I don't need to read them everyday. That includes Alex Barnett and Charlene Li.
3's are things I need to pay attention to, but aren't really part of regular content consumption, like the blogs of our companies, who we hear from anyway, and some MSM feeds.
4's are for something else... 4's are del.icio.us feeds of fun stuff to do and restaurants, and PubSub feeds.
5's are friends.
Then, there's the 0 category. That's a test. 0's are short lived... for like a week. Its a watchlist of stuff I might want to read. Pete and Chris have graduated from the zeros.