Does Having an Editor Make You Legit?

Roger Sutton made another comment about print v. blogging that struck me:

"[Print] individual reviews are never just 'one person's opinion,' which is perhaps the starkest difference between blog and traditional reviewing: at the journals and magazines I know, a print review always involves at least two people, usually more, and a review policy, resulting in a certain amount of standarization. Maybe that's not what we want from blogs."

Many of the bloggers I've linked to on the right are on the editorial board of an online kidlit journal, The Edge of the Forest. Many other bloggers are contributors; are these reviews more "legit" than the ones posted on their blogs, since someone else read them first?