If you have a portal (like PortaMx) installed, it's very simple to create a small block, they use the PmxBlogSSI.php
Also you can modifiy your index.template.php to add a small code to view the recent blogs ..
Here the code they need for this:
This will show max the last 5 new blogs/comment.
The first blog (in the example image) have new blogs AND comments, the second have no news ..
With a little bit more fiddel, you can sort out readed blogs, so only unread is shown ...
That you can add to the index.template.php .. put this into a <div> ... </div> section.
It will looks like the attached image ..
If you not a good coder on php, you can send me your index.tempate.php file (zipped), then I can modify that for you ...