What is reputation grooming and how much time do you spend on it?

In our WAM workshop on social capital and the social media ecosystem, I talked a lot about social capital and the gift economy we’re moving into–the way that people derive value from the ideas, links, and support they contribute to others.

An effect of this, which I have become very aware of in my own life, is what I call CRM (customer relationship management) for social networks, or, abbreviated, reputation grooming.

To put it briefly, I probably spent 40 minutes a day, 5 days a week, scrolling through twitter, twitter search, facebook, friendfeed  and other more random services checking what my friends and community are saying, if there are retweets of my tweets, comments on posts, or message to me I need to reply to.
 I think of this work not as creative thought that helps move my ideas forward, but as maintenance.  It’s pruning the garden, not putting the plants in.

How much time do you spend in this activity and how do you think about it? Would love to hear what others think.