Kent Newsome continues to write some interesting stuff about blogging. (Should that be blog some interesting stuff about blogging?) He's listed his 5 Stages of Blogging which include Excitement, Expectation, Frustration, Alienation, and Abandonment.
Kent couches most of his arguments within the context of "regardless of motivation" which makes sense and is accurate. That said, IMHO blogging is fundamentally no different than any other human endeavor that requires patience and persistence to achieve whatever rewards you are looking for, with a couple of exceptions.
Bloggers like to talk and share a lot. If they find success they share it. Some call that bragging. Some call it ego gratification. Some call it smart PR. It does create an expectation factor for those reading from the sidelines that anyone can do the same. That window closed long ago and like any other endeavor, last in usually means first out. And of course there are quite a few blog resources that list the same "How to succeed in blogging rules" that really don't help anyone do anything but get a start and I think create a shorter path to Kent's later stages. No matter how patient and how persistent you might be, it takes a little assistance to get things moving in the right direction. (Read friend. Read Link Love.) I don't believe that "blog good content and they'll come" maxim.
Patience and persistence also don't pay off if you aren't willing to play the game. Like all other endeavors blogging has its rules and game play. Folks can deny it all they want, but it is true. That kind of game playing takes more than patience and persistence, it takes paying attention to what's going on. And in my mind that's the single biggest investment in time you have to make.