I love your visualization of the Mumbai terrorist attacks news flow. I remember first hearing about it from my own Twitter friend, @gsik, as I sat on my bed at home during winter break. It took a good half hour until I could confirm the news via a mainstream/trusted media source (a la NYT, CNN). Same goes for updates on the attacks. I actually wrote about my experience here: http://ninanyc.com/2008/12/01/dont-hate-on-twit…
Anyway, the only thing I would add to your diagram is another arrow from (2) Trusted Mainstream News Source leading back to (1) Twitter. I think a key point can be made that MSM now refers *back* to Twitter as an original source. What does that say about the way Twitter is changing the reporting of breaking news?
Awesome post 🙂