Technorati is the best blog tracking service that is currently available. many says that technorati gives you lots of traffic..but in my case I have only got a single hit from technorati..leave my case. It is a fact Technorati is really powerful. It has a nice feature called blog ranks it do just as the name suggest it will rank our blogs.It is based on the number of links that you get from other blogs.
I have found an entry that explain this well take a look at it
He also created a nifty calculator for finding your blog rank. It is a simple script. if you want to add this to your site just copy it and paste it in the source file.
<iframe src=”http://www.modernlifeisrubbish.co.uk/rankorati/” frameborder=0 scrolling=no width=330 height=230 style=”border:4px solid #eee;”></iframe>