A discussion about Featured Blogs

No, I'm not asking for any code. Just looking for ideas.

I've pointed this out a couple of times on the mu forums but we've never really had a discussion about it.

What makes a Featured Blog?

Right now, we have two systems on our installs. It's either a manual copy and paste done by the blog admin or a ranking system based on the average number of page views within a certain time against the number of unique visitors. (Plus a couple of things thrown in there.)

Using the system, we have a number of installs where the same blogs always rank high than the rest. Webcomics usually. A Choose Your Own Adventure blog as well.

And manual copy and paste pulls time away from site admins.

What do other folks use?