Today, Jeffery Veen (who commented on my earlier post about Measure Map) also bookmarked it at Hot Links, a social bookmarking tool in development.
Whether Jeffery did it for this purpose or not, the boost in traffic to my site from this link showed me how Measure Map excels as a tool for monitoring the activity on your blog.
The overview for my site on Measure Map, quickly shows that there was more activity on my site, than on the average day. It also showed that the Measure Map post is very popular today.
Drilling down, I get this page of details about the Measure Map post:

As you can see, this page shows me that today there were 16 links in. That means 16 unique sites, not just 16 links. I can drill down further to find which sites and how many referrals from each site.
Similar information could have been found from a regular stats package. Where Measure Map does a better job is consolidating this information into a set of simple views that allow you to understand the general activity on your site and quickly identify posts of particular interest to your visitors.