In its simplest terms, a sponsored post is like one of those "advertorials" you often see in newspapers and magazines. The ad appears in the form of a atandard article, but has a disclaimer attached, stating the article is a "paid advertisement".
Since the phenomenon is already part of the traditional media, we can't say it's original. I suppose, on the other hand, the regular media can't dismiss sponsored posts as a "blogging idea" either.
That unstoppable fountain of enginuity, Jeremy Wright of Ensight, has added sponsored posts to his widely read blog.
His sponsored post was clearly labeled as such. The advertorial was also clearly demarcated from the rest of his blog.
Jeremy has also promised his loyal readers that there will be no more than one paid posting per week.
That is probably wise on his part, as readers will probably drift away from any blog that is perceived as being all paid advertising. Note that the perception of some readers might differ widely from the reality. However, as the philosopher Marshall McLuhan said, "Perception is reality". What a person believes to be real, is in fact, completely real to them as they see it.
Jeremy is doing a great job of quelling that possibility.
As a money making concept for bloggers, paid posts might be a useful idea. Simply find a sponsor for a column, place the advertorial and link on the blog, and there is a revenue generator.
While sponsored posts are certainly not for everyone who blogs, they might be idea for some bloggers.
A blogger must weigh the revenue against the possible alienation of some readers.
Whether you decide to make the tradeoff, is up to you.
Remember, everything in business as in life, involves tradeoffs. You simply have to choose the trades with which you are most comfortable.
Personally, I have no problem with bloggers accepting sponsored posts, or any form of blog based advertising.
It is definitely worth at least cosidering, if you require sources of revenue for your blog.
You mileage might vary, however.