I recently recommended to a client's project management office that they consider leveraging the blogging feature that is available in Sharepoint - to help communicate the progress of team members (and also as a way of capturing the tribal knowledge that so often simply walks out the door when the consultants leave at the end of a project).
Some of the team members are using the Sharepoint wiki feature - but that is generally more useful for publishing the "official" knowledge of the team. Blogging allows team members to maintain their own journal of research, avenues tried, options considered, and results of their trial-and-error.
I found an interesting project on the Codeplex site that provides Enhanced Blogging capabilities for Sharepoint's base feature:
Codeplex - Sharepoint 2007 Enhanced Blogging module
There's also a demo of the technology here: