Tom from Functional Ambivalent has a great post on buzz vs. hype. It includes these gems
First, definitions: Hype is something that is generated from above. Hype is what big companies have always done. It's a movie star going from talk show to talk show to recite the same lines and laugh at the same clip of a $100 million movie being released next weekend. It's coordinated magazine covers and advertisements and promotional stunts and big billboards out on the street, and everything about it feels slick and bought and paid-for.
Buzz is something else completely. Buzz is bottom-up. Buzz is what people are saying to each other. Buzz is real. Buzz connects.
And this nice analysis:
The two big negatives of blogging — everyone does it and there's no new information — are exactly what makes the blogosphere valuable. Place the right message in the right blog and other bloggers will pick it up, spreading it like a virus to readers who are very close to the person — the blogger — delivering the message.
Go check out the whole thing.