Go read Beware of Blurbs at Salon. With everything that blurbs have going against them, the Salon article states that "One British publisher claims to have seen research showing that as many as 62 percent of book buyers choose titles on the basis of blurbs." I am stunned.
I worry sometimes that I will someday have an agent or an editor who will insist that I go out and seek blurbs and all my blurb hate here at Original Content will come back to haunt me. To be perfectly honest, though, I can't see either of those things happening any time soon, so I don't worry about it much.