Unsure, because I already have a blog (or two, or three). Tying it in to an already-existing system, or allowing me to populate entries into it, like from blogger, livejournal, or movabletype, might be useful.
Should it allow comments from people on entries?
Sure.
Should it allow to create independent blog entries FOR PROJECTS?
Like… different blogs entirely? Or just different entries? I would say the best way to handle it would to create categories to file stuff under, a la movabletype. LJ’s tagging system is also good for this.
Should it allow to cross mention other blogs?
I don’t see how you’re going to stop people from doing so…
Should we be inspired by other sites?
Yes. Learn from your forebears. Make it searchable, or it’ll get out of hand really quickly.
Or the blog is a distraction from what the cgporlio really is?
Possibly. I think it may be too much to maintain, in its current state. Maybe some tie-in to cgtalk would be good. Like, you do a post on cgtalk, and click a checkbox, and its uploaded also as a blog entry… for those threads where you’re continually posting your own stuff. Dunno.