I think the biggest difficulty you're going to have is driving traffic to your blog. It's incredibly easy to set up a blog and start posting, but it's much harder to get anyone to come and read it.
If you have a decent following on facebook, you could sync it up so that new posts are automatically added to your facebook profile, likewise with twitter. Apart from that, it's a lot of hard work.
I'm a big fan of community projects, but I wonder if people will soon see it as a way to promote your brand rather than a broader project at heart, which could put them off. Might it be better to concentrate on simply promoting your band across a wider network?