I started using this a while back and I LOVE it! You can see updates to all your friends and family's blogs all in one place.
A friend asked me a while back "But can you see new posts from all your friends on one page?" and I said no, but I was wrong! You can, I have my blogs organized into friends, family and other, and when I click on the main heading I get all new ones from all blogs in that folder.
The one drawback is you don't see comments to blogposts, just new posts by the author.
Check it out http://www.bloglines.com/