Saw a post about it on TechCrunch that indicates Bloglines may stop functioning.
The post is here.
In case that happens, and if you don't want to lose the blog feeds you had subscribed to, here's what you can do:
Export the RSS or Atom feeds of the blogs that you subscribe to, using the Bloglines feature called Export Subscriptions. Login to your Bloglines account and look for the feature at the bottom of the left pane. Click on it and save the generated OPML file somewhere.
Then import that OPML file into some other feed reader of your choice, using that reader's appropriate option to do so. (The option should be called something like Import Subscriptions or Import Feeds.) Most good feed readers, whether desktop or web-based, should have such an option.
Vasudev Ram - Dancing Bison Enterprises.