There are suggestions that Google+ can be used as something akin to a blogging platform, and it is an interesting idea. I briefly contemplated about adopting it as such, but I decided against doing so. The main reason for rejecting the idea was that I wanted to concentrate on this site, rathen than on Google+. Also, I remain somewhat sceptical about the whole social web, both in terms of its desirability and inevitability. Despite my misgivings, there are many attractive elements to Google+, it may become the hub for creating online content for many people.
The great thing about Google+ is the flexibility and the degree of control that the user can exercise over his or her materials, in particular the poster can decide with whom to share which posts. Blogging is usually either public, visible to anyone with internet access, or private, closed to the world and accessible only to a handful of chosen people or just to the blogger alone. The Circles in Google+ enable a post-by-post control about who can see which materials: some things can be shared with the whole world publicly, but other things only to intimate friends.
Currently, many elements normally associated with blogging are not available in Google+, such as archives, the lack of which makes it difficult to locate a post that is now long buried under the newer materials. It is impossible to customize the look and the feel of Google+, probably intentionally so as Google wants to avoid the fate of the anarchic colourfulness that was (and is?) MySpace and maintain a clean look. However, given the increased integration of other Google products, for example Picasa Web Albums (which incidentally has not been problem-free), with Google+, it may become a great and an easy-to-use medium for all kinds of online activities.
I think there remains a market for blogging as something distinct from social networking platforms such as Google+. Blogger, for example, has been undergoing substantial changes at the moment, and many bloggers like the high degree of customization. Perhpas an interesting development would be a part integration of Blogger and Google+: posting in one is reflected on the other.