There are so many URLs so I can see the merits to an online host for faves. Like so many of these offerings, it does seem more like another toy that can tie up hours in getting everything in its right place. How often it gets used as a directory thereafter will depend on the user, however I think many users will try to get the mostest ever bookmarks like it's some kind of competition (a la friends on Facebook).
Technorati seems to me like an abridged version of any major search engine. For people in marketing it has the potential to be quite powerful, so I then wonder about the legitimacy of some of the 'most popular' tags. At face value it does seem a useful tool for browsing social commentary.
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