Twitter was used for information and responses around Benazir Bhutto's assassination this week. There's a classic mix of journalism sites using Twitter (Breaking News) with individuals tweeting to point towards more information, confirm reports, or react.
Dennis Howlett argues that the tweet cycle is faster than the blog one, with implications for business. I'm with Doc Searls on this, who sees it as "proving useful for getting some live information out to some people.".
(via Doc Searls)