Boston Now, a free daily started last spring in Boston, Massachusetts, and reported about then on Realneo,  has closed up and pulled it's servers off line.  You can't even read about their closing on their web site.  Instead you can find the news here in Google's cache
There is surely a warning in the failure of Boston Now - perhaps hyper-local blog generated Hard Copy Paper newspapers are done. 

So what about the Lakewood Observer, Future Heights and other printed publications which, like Boston Now, are bettiing against the virtual tide?