Literary bloggers have been debating the SXSW Festival's "New Think for Old Publishers" panel all day. As the short video (by Books and Authors) illustrates above, yesterday's one-hour discussion exposed a tumultuous, ongoing debate the future of publishing.

Booksquare reviewed the experience: "As the panelists expounded upon their lofty roles in the world of publishing--and I'm sorry to say that it sounded as if they worked on a mountain high, whether intended or not--they seemed oblivious to fact that they were speaking to a room filled with publishers. It was as if we didn't understand the rigors the job."

Medialoper wrote: "Without warning the panel discussion was turned into an impromptu focus group. A twist that was met alternately with skepticism, amusement, and open hostility." Finally, author William F. Aicher actually participated in the panel, and wrote: "[P]ublishers need to stop trying to be tastemakers and instead realize that they are ultimately administrators of extraordinarily valuable copyright-protected content that they can build a brand around."

Follow the real-time debate on the panel's Twitter feed. Links via Richard Nash and Mike Cane. Add your thoughts in the comments for a future post.