I would say the major change is the way personal blogging has spread out over a number of services (flickr, twitter, tumblr etc). back in the day I could follow your blog and get the full orbyn experience. not anymore. I think this is diminishing blogging - I though lifestreams might solve this but I find they are quite bland in practice.

I also miss the sense of community and the fun that was part early blogging but I suspect that as the community got larger it was impossible to sustain that.