Are blogrolls still important?

This weekend has been ok while on call (I know I'm probably jinxing myself now). I've been meaning to edit my blogroll for a long time now. I've been putting it off for a while, because to go through this list just takes a long time. When I was going through my list today, I deleted about 20 links because they are no longer blogging. Everyone in New Media Medicine (ie- medical blogosphere) knows that GruntDoc has his occasional "DeadBlog" post where he deletes links every so often.

I remember back when I first started blogging. I was trying to figure out who were the most popular med bloggers. One of the ways was seeing the blog linked on everywhere. And, my goal as a new blogger would be to get on these famous blogger's link list. I was so happy when I started seeing my link on other's blogs.

Now, with it being two years later, I wonder whether people use the blogroll or the link list to determine popularity. In my opinion, the blogroll has become a little old fashioned. What I see out there are things like being followed on Twitter and other social networking sites rather than the blogroll. What do you think? Is the blogroll as prestigious as it used to be?