Developed, no doubt.
Undeveloped... it's an interesting name, hard to go one side or other of the fence. Not real exciting, but okay.... and not strongly descriptive, but okay.
I'm all for developing that one... possibly specializing in 'reactions' to anything major that happens in the world/locally? Make the site reflect the name and try to concentrate on only the quickest, most up-to-date blog content about any large wonderful or catastrophic or econimic change/occurence?
Hope some of this plants a seed and you get a hot name and big $, I do think there is potential. This is the man who nabbed 'blogbarf' talking, ha