A&R2.0 ... Did A&R get much easier, or harder?

I recently came across this excellent video on YouTube and I started wondering how Web2.0 has affected the work of Artist & Repertoire Managers?

We all know what effect the Internet has had on music distribution, but this is not the only aspect of the business that is being affected. A&R managers with piles of tapes on their desks and scouting in dark and dodgy clubs for the next big thing seems to be a thing of the past …

Web2.0 has created a completely new platform and has shifted the selection and evaluation process from the A&R Manager to the “public”. A popular Youtube video is a statement by itself, MySpace helped launch The Arctic Monkeys and Lilly Allen. So where do the A&R Managers now come in?
I guess the challenge now lies in the selecting the publicly selected (quickly spotting what is hot online) and evaluating which act can be added value too? Or rather which act can add value to your own business?

Keeping a close eye on the Buzz that lives in the Blogosphere is certainly a prerogative to A&R nowadays. So, an A&R manager should now primarily be a social media participant, a Web2.0 pioneer. This seriously relocates the A&R's biosphere. From the club to a laptop.

I guess A&R will still be an "art", but a very different one.