The real power of an application like this would be aggregating real-time news events as they unfold and creating news stories from real-time tweets, blog posts

The real power of an application like this would be aggregating real-time news events as they unfold and creating news stories from real-time tweets, blog posts, and other social media. Instead of just clustering together topics, being able to "read" a large amount of sources and generate a summary would actually be very useful. Unfortunately, I think that it ignores a lot of very difficult problems in natural language processing and computational linguistics. It will likely have a few homeruns, but peter out as it hits an accuracy wall.