I have not upgraded to the new Template tool on my old blog for fear of breaking things. But that is my fear (and my sloth since I can copy the old Template and reinstall if necessary). I will make the leap to hyperspace in the not too distance future and in the meantime, I was wrong to indict them for my doing it the old way.
Also, I think I understand the value of using del.icio.us as an evaluation tool for student work. That work can be in any form as long as it has an associated url. Further for peer review, if the students are instructed to come up with a common tag that is used for the peer review purpose, then not just the individual but the aggregate comments will be available for scrutiny and feeds from them can be displayed as well. To me, this has a big upside and seems quite easy to get going.