Lots of people forget that he likely would have been a 1st or 2nd round pick had it not been for that sucker punch after the Boise State game. Also, if you didn't think he was that good of a back, you obviously didn't watch him in his rookie season, where he was outstanding. It was pretty evident that he either butted heads with the coaches or wasn't as devoted to the game after that, as his playing time dwindled as did his YPC.
I don't know if he'll ever be a feature back over the course of a season (300 carries) moving forward, but he's definitely a good complementary back.
I see more Antowain Smith with him than Corey Dillon. Dillon had a little bit more moves, and came here in the latter years of an outstanding career. Smith was what would be a running back's prime (this should be Blount's as well) after a forgettable start in Buffalo. I also think Smith's style is more like Blount's. He doesn't break many tackles, but he pushes them back a few yards every time. His style may not break nearly as many long runs, but he will turn 2 yard runs into 6 or 7 yards. Once he breaks the line of scrimmage, it's awfully hard to stop him.
I'll take a guy like Blount, who will get you 2 to 3 every time, while also breaking some 10 yarders a few times a game, over Chris Johnson, who gets half his yards on one run, and gets stuffed the rest of the game. I'll take 4.5 YPC from Blount (actually getting 4.5 yards just about every carry) over Chris Johnson getting 5 YPC (1 rush for 40 yards, one rush for 25, then 18 rushes for 35, which is usually how he gets his 100). It's more reliable that way.