Via Doc, I found this comment by Kevin Marks:

Last week I watched Steve Jobs explain Technorati's advantage over Google - he was talking about Safari's RSS search, but Technorati searches millions of blogs for you within minutes of them updating, not just the RSS feeds you have already subscribed to.

However, sometimes you just want to search the blogs that you're subscribed to, not every blog in the world. I.e. the "I saw this posting about X once and now I'd like to see it again". Bridging this gap would be killer. I assume the way to do it would be to allow uploading of blogrolls or restriction lists using OPML or something. And once you've gone that far, it's not a big leap to imagine Technorati getting into the Bloglines business.

Some full-text searching is coming in Jäger 1.3/1.4, though I may initially just restrict it to the Library till I understand the implications and technology better.