Be cautious. The script hogs plenty of resources. As your site grows, it
puts enormous strain on the Web server.
Here is a little thread I participated in (Mike is co-founder of WordPress):
[His site appears to be /down/ at the moment so here is Google Cache]
Some weeks ago he argued that his site could no longer handle the phlogger
load. He had to switch! What's more, the project (phlogger) seems to be no
longer maintained so do not become dependent on it.