I don't think it really helps at all. It would only help if your profile pages were public. It's basically similar to FaceBook and Plaxo. I know for certain Plaxo doesn't have anything public. I use Plaxo myself for staying in touch with family.
Twitter is a communication medium. By default, all your 'tweets' are public, but you can hide them if you wish. I use it all the time, and I use the fantastic desktop client Twhirl to keep me up to date.
Twitter is not a social bookmarking site, though many people don't understand this. When utilised correctly, and once you have a following, it can work very well.
This social networking phenomenon seems to be gathering pace with more sites sprouting up all the time I registered with a few more of the newer web 2.0 sites a few weeks ago (in a vain attempt to keep up to date with them all) and twitter is one site that I thought did have some potential of course I am still finding my way round it at this stage although I will be trying to visit it on a regular basis and figure out how to use it effectively.
You need to at least know about twitter if you're serious about social media. Submitting to Digg etc may give you the traffic peak (although most of it is useless) but twitter is the long game, where you can build up relationships with your clients and with keybloggers who can eventually link to your site. Think of twitter as an algmagation of RSS and IM - its basically another outlet for your RSS feeds but with a personal touch. If you are going to use it, I'd recommend following some decent people to see how they use it, and to download twhirl.org for easy desktop integration. You can reach me on it at twitter.com/hollowmarked
people use twitter in conjunction with digg, facebook etc. etc.
It's like people are subscribed to your blog and they auto. know whatever you type.
(some people use twitter to ask for Diggs)
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