An anonymous blogger (seriously, he's anonymous) writes:

It’s a very useful site for keeping track of who is linking to you. Their about page says they’re “the recognized authority on what’s happening on the World Live Web, right now” and their Wikipedia entry lists them as an “Internet search company”. But how many people actually use it for search?

I'd consider it, but Technorati is simply too slow.

All that stuff they tell you about how important it is to keep your site fast, it's true.  A page that loads quickly and returns results quickly is much more likely to get return business.

What do I use to find blogs?

Google Reader, which I've gone back to, has a search feature - and being from Google, it's as fast, simple and comprehensive as you'd expect.