Video blogging and the LMS seem like they should go together naturally. Like bagels and cream cheese, the combination is better than either alone.
This mashup of technologies and communication techniques, alas, has not seemed to catch-on. Why not?
An argument for integrating video blogging with the LMS:
1. Easy: With youtube.com/my_webcam  or the viddler.com  webcam record feature it is dead easy to record a quick video message, grab the url or the embed code, and drop it in a Blackboard, Moodle, Sakai or D2L blog, announcement or discussion board. You can see a quick (21 second) example of what this would look like at this link. 
2. Fast: Recording a video blog and linking/embedding to the LMS is faster than typing. We talk much more quickly then we type.
3. Social: How much richer would the asynchronous portion of our courses be if our instructors and students were talking to each other with linked or embedded video blogs/discussion - as opposed to only text? We respond to people's faces and voices - video blogging brings the class closer together.
Speculation as to why the video blog and the LMS have not merged to a greater degree:
1. Already Happening: Maybe I'm wrong, and this is standard practice in your LMS supported on-ground, hybrid and online courses.
2. No Knowledge: Maybe people don't know about the easy YouTube and Viddler quick webcam capture and publish tools, or how easy it is to slap a link or some embed code up to the LMS.
3. No Desire: Perhaps learners (students and instructors) know that this is possible, but feel that having mostly (only) text works better. Text is scannable and fast for the consumer - and can be printed or copied.
The other wrinkle in all this mobile computing. I think that once the iPad gets a built in camera that we will be seeing a big increase in communication via video blog. Talking is way better than typing on a mobile device.
Will the next generation of learners finally escape the tyranny of the keyboard?