I posted a short article on wordpress.com. I had a client ask me about the potential SEO value of a competitor's use of wordpress.com. It seems that the SEO value of the site is pretty low, even though the PR is high. Google algorithms seem to be getting more efficient at rooting out one or two source SEO campaigns. No more link spamming can be expected to shove someone out of the way just because you generated 200 new backlinks with some script.
Here's the SEO Post.