In the end that's what journalism is for - telling us when and where democracy and our rule of law is failing. Doing so clearly, authoritatively and with impact.
Wikileaks is in that definition journalism - as was watergate. We will all be much much poorer if we cannot ensure the survival of that journalism.
I think the secret lies in the fact I cannot tell between a blog post about a conspiracy nut in a parking garage and a blog post about the deputy director of the FBI in a parking garage.
Ben Bradlee could. We need editors if we are going to keep journalism.