Though socialmeter did not reveal anything new or special about your blog or website and only collected inbound link data from social sites like digg, delicious, reditt, technorati - it did receive lot of visibility in the blogosphere at the time of launch because it was perhaps the only service that was displaying this "ego" data at one place in an impressive visual style.
The developer is moving on to different projects and therefore wants to sell socialmeter to someone who plans to expand it. The highest bid at the time of writing is only $430 which is actually very reasonable because you get the site ownership, domain, as well the underlying source code.
I personally use socialmeter.com extensively via this bookmarklet to check the popularity graph of any webpage or blog instantly from the current browser window. Hope the new owners of socialmeter do not discontinue the good work. [Thanks Jack Schofield]