Update: Oh, I forgot to mention there is even a RSS feed you can subscribe to. Mine is here.
As usual, Popagandhi, the one who lives on the bleeding edge of the New and Cool, tries a cool thingy and I see it on her site and end up trying it.
So I caved and signed up for Twitter (my page is here), which is a cool doodad that lets you tell your friends (or the whole world) what you are doing at the moment. You can update via the web, via chat (like GTalk, .Mac, AIM or Jabber), or even via SMS on mobile phone (but this is some overseas number, so your SMSes will cost more, use with caution).
I added the Twitter badge to my left sidebar too.
I set mine to display my friends' updates to my mobile and started receiving tons of SMSes from Popagandhi because she is such a prolific Twitterer. In the end, I realised you can change the updates to only be sent at certain hours, or to your chat or to your Twitter page only. But getting Twitter updates via mobile is fun.
While you can use it to tell people what you are doing now, I reckon it is a cool way to micro-blog, blogging in short bursts of text, which is how I am using it. Try it yourself. It's pretty addictive.