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We can compare the screenshot from Valleywag for the search term 'Wikipedia' to the results over the coming months to see if Google is attempting to alleviate Technorati's rankings, as they had done with Amazon.
I don't use search regularly, but I do use watchlists a lot, not visiting the site but pulling the feeds to my Google Reader. That's really really useful... for your own blog or as a consultant to be aware of the blogbuzz on a brand, product, etc.
Nobody does that (at least that I know) but Technorati. Not to mention Authority and Rank, both a big value for bloggers.
http://www.centernetworks.com/how-i-use-technorati
They could virtually throw all the sponsored post companies out the window with one swipe.
In short, have a look at Technorati's numbers on Alexa, Quantcast, and Compete, and if you have access to Hitwise and other commercial metrics companies, have a look at that, too.
I think all Technorati's numbers are up, so why would they need to change???