As someone who writes for a blog with a relatively large reach, all I can say is do it and circulate it as best you can. You never know who might pick it up and what kind of links may ensue.

As to circulating it, a [reputable] PR company is a good bet but hardly free. There are services such as PRNewswire that are comparatively cheap - and assembling a mailing list of your favorite (and other relevant) blogs / news sources is free!