Thanks for the feedback...we're still working through design and layout issues, so all feedback and advice in this area is welcome.
You can definitely put together a free service to monitor mentions of your brand, but there's a few things that you miss:
1. No analysis or deeper meta info about the conversations and the people who are talking
2. No dashboard to quickly see an overview of what topics and brands you're tracking have new mentions
3. Takes more time to put together the feeds and keep up on what new social channels are relevant and should be added.
4. No integrated ways to engage in the conversations you find, which just saves a bit of time.
5. No collaborative features, such as being able to see which items someone else on your team already responded to.
Obviously, for some users, a free solution using RSS feeds or something similar is the way to go, but if your time is worth $50 / hour, our solution only needs to save 24 minutes per month to be cost effective.