Tom Coates riffs on how full insight can be achieved in the blogosphere. The gist is that you don't need to read everything to be fully informed.
Unfortunately, Coates correlates linking with the "insightfulness" of commentary. Also, order and context of item arrival are ignored in terms of gaining insight. In short, when you come into the story, what order you receive followup information, and also what else is competing for your attention are all important elements.
However I think it's a nice initial stab at thinking about information distribution and "journalism" within small world graphs.
Observation: there don't seem to be any good models of what it means to be "fully informed" on a particular topic.