I know I am late to the Twitter game, but I've started to play and I will say this - Twitter can be great!
First - we here at Digital Third Coast started using Twitter about a month ago as an experimental way to communicate easily between all of our employees. As George and I started exploring the options we started following some users... but wait....
Let's look back to my Pre-Twitter days.... There were many nights spent at the computer trying to keep up with the latest trends in the search industry or trying to find answers to specific problems, etc. - reading blogs, finding sites, and wading through an immense trough of information. These nights were often fruitful and I have found some absolutely outstanding resources (email me for some of my favorites) - but nearly as often I would run into useless rants, misinformed dreck, online get rich quick schemes, a lot of recycled material, and at least 3 offers for cheap Viagra (I bookmarked those for the future).
Queue Twitter - Recently, I have been following several individuals (51 as of today) on Twitter that, for the most part, consistently provide great links and thoughtful comments. And, because I've kept finding more quality individuals to follow, the supply of great new information is constantly coming in. It helps provide me a way to sort through information and find some direction that at times before I lacked.
As a fair warning though - Tweeting can also send you plenty of bad posts and things that you really don't care about. Twitter can waste your time as much as you allow it to do so.
This all said, Twitter also made me want to give back to the community - I try to "retweet" interesting posts to those who follow me. I even, at times, send links found from the tweeting folks I follow on to other friends via email or IM. I'm still a bit hesitant to tweet too much - I don't know if what I tweet has already been done. But as I do it (much with blogging), I feel more comfortable putting "stuff" out there in the Twitter world. I hope to simply provide an excellent resource, open to others, as others have done for me. Tweet on.