How do Wikis and Blogs fit together?

I'm often asked by people when they should use a Wiki and when they should use a Blog. So when I saw this post from the Library Clips Blog I thought great, now I can just forward this explanation which I think provides a good summary, from the blog post:

"...wikis have perpetually re-edited pages, whereas blogs have a stream of date-based entries just like newspaper articles.

Wikipages can be seen as more definitive, whereas blog posts are about currency, opinion, etc…"

The post also describes how content from Blogs can eventually be incorporated in Wikipages, this is something that I know is of concern to many Knowledge Managers, especially if their companies already have well used Know How Portals/Systems:

"The cream of the blog conversations is then added to a wikipage as the important and relevant information (filtered, and applied to the corporate context)...

...The Blog will be vibrant, and make sea changes in real-time. The Wiki, as it matures, will serve as corporate knowledge and will not be as fickle as a the Blog. The Wiki will be authortative in nature, while the Blog will be highly agile. The Blog is personal and opinionated. The Wiki is agreed-uopn and corporate […] The Blog and the Wiki serve as successive refining processes for the unrefined ore in the intelligence repository"