Ezra Klein writes about how he handles the vast amount of information available on the Internet.
He explains that while he finds Twitter interesting, he uses the Google RSS Reader to digest large numbers of blogs. He finds other blogs more useful than books when looking for blog post topics, even if there's less nuance in blogs.
I use Twitter to remind myself what to blog about later in the week. I'm going through my retweeted tweets right now, as I'm looking for blog fodder. I usually friend people on Twitter who are more likely to link to interesting stuff. My friends on Facebook are useful sometimes. I use Google Reader, too, but I need to rejigger my list to reflect my current interests.
In the past month, I've made a conscious effort to read the dead tree version of the New York Times, rather than using their most e-mailed articles list. I also go to the dead tree versions of the Economist, the New Republic, The New Yorker, Lucky, and Time Out New York.