Here's a lightning presentation from today's SemTech 2010 that describes this in more detail: http://www.slideshare.net/terraces/smob-a-framework-for-sema...

I found this little slide deck while trying to figure out what semantic microblogging is: http://www.slideshare.net/bengee/semantic-microblogging-pres...

Am I wrong or is there no currently running example to found? Or does it not actually publish a blog itself?

It's distributable, so right now you have to run it on a server yourself. There's a download link on the page: http://code.google.com/p/smob/downloads/list

I've been thinking of throwing the code up somewhere for people to try. Let me know if there would be interest in that.

How's it compared to other distributed m-blogging tools, say PubSubHubBlob and SatusNet?

It actually builds RDF onto PubSubHubBub, so it integrates there as well: http://apassant.net/blog/2010/04/18/sparql-pubsubhubbub-spar...