Not really. It still carries more status in the media and in the public to stay "I'm a columnist" or "I'm a reporter" than to say "I'm a blogger."
I've been "beat blogging" for five years on my main topic and hosted or co-hosted other blogs in the meantime. Therefore, I have quite a bit of experience with this.
The advantages include the fact that immediacy does not have to be lost. One can jump into a conversation as soon as it becomes a trending topic or headline of the day.
I also like the fact that on a blog, I can embed links to follow up points or reference material so the reader can find more information with just one click.
The disadvantages are bloggers must spend quite a bit of time marketing their product instead of focusing solely on reporting and presentation.