Like some of my TB colleagues, I've spent a lot of time reading the two TBT threads on this issue, thinking about the arguments, and attempting to inform myself by reading some of the megathread, specifically the first page, random posts, and everything that's been posted this month. I wish a clearer case had been made for the proposal.
Nevertheless, my somewhat philosophical view is that I like the idea of giving new fora a chance; I don't see how a huge harm results if an experiment is later shown not to work well. I also see travel/miles/points blogs as being logically part of the subject of FT, just like travel tools belong here on FT as their discussion is beneficial to FT members. Having a separate forum will avoid all of the difficulties inherent in the megathread. There will also be a distinct area created in which cross comparisons of blogs will be viewed as appropriate and where systematic aspects of particular blogs--such as some being less accurate than others when discussing various FF program rules--can be pointed out. As blogs increasingly censor comments with varying degrees of attempting to eliminate any critical comments, it's important to us on FT to have a place where factual and fair criticism can discussed.
For the record, I tend to reject the argument that posters in such a new forum might misbehave. Most people here are mature and can be trusted to generally follow the rules; some of the exceptions are likely to cause trouble on other fora too and perhaps should lose their FT privileges, but of course that's a matter of moderator policy and actions. Inappropriate posts that violate the FT TOS should be dealt with according to established procedures. This is why moderators get paid the big bucks.
Also for the record, I think BlogTalk or whatever it's called should be a separate forum, probably listed near Travel Tools (maybe call it Blog Tools?) on FT, and not appear as a subforum in Travel News.