Its very good traffic source for me apart from google this is my second highest traffic source, I have almost 5000 followers now though mind you!
I think it's not a waste of time...and actually it helps in marketing your blog/site if u use it effectively...
I use twitter as more of a news source feed for my site. With 13k + followers, everytime I tweet I get about 150 people to my site. But unlike most marketers, I'm not selling anything so I think it's easier for me to obtain followers.
i think u must pm if you have interest in Twitter traffic i can tell many thinks about the website nd many good things its easy for me. twitter is top i have ebooks and sofware to become a succes twitter member with 500 or more followers every day
I think what most people are doing are following random people and they follow back etc. and trying to get followers like that. Many people don't have targeted followers! which is why Twitter is useless and not converting. And you cant just list stuff on twitter and expect conversions to happen. You must build TRUST again let me bold this out TRUST of your followers.