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Robert_Charlton - 5:11 am on Sep 19, 2009 (gmt 0)
I'm assuming that unless you exercise a lot of discipline, which most don't, Google will have no trouble spotting this as spam. Google might even consider it paid blog spam and slap you with a penalty. I remember that there were a lot of reports recently of sites being penalized for blog spam, but I can't locate the thread right now.
Who links to the blogs (so that the links from the blogs are worth something)? If you can build content on the blogs that's good enough to attract good quality inbound links... good enough to help you... why not just put the content on your own site in the first place?