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I used wordpress.com blogs for a very niched product a few years back. The reason to use wordpress.com is not so much that someone is too cheap to buy their own hosted domain but wordpress.com is a community in itself that has alot of internal traffic and linking. You just put it up and you're done.
Made over $75k with only about 5 blogs in roughly about 3 or 4 months that they were up. Updated each once every 2 to 3 days.
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