In terms of speed, wouldn't it be:

(i) TMZ (heh) (ii) Twitter (iii) After about 30 minutes, google/google news

So Twitter is essentially good for the 30 minute gap.

Obviously there's value with getting news fast. Twitter helps with this. But is there any room left in the real-time market? Now that Google, Bing and Yahoo index real-time conversations, the only thing left is building widgets and features onto Twitter. In otherwords, the oneriot's, webmynds, crowdeye's and kikin's are becoming basically worthless. The once ripe market of Real-time search is now filled by Google(relevancy) and Twitter(real-time).