kreynolds said:
After reading Blink over and over and over, I don't think the spell was meant to work that way. Why not keep it simple, because the spell sure is. All you get is a beneficial miss chance to people trying to hit you. That's it. If you hit someone that is blinking, and you roll your miss chance and you still hit them, then you hit them.
If you want to be able to walk through something then you need to become ethereal, as per the spell. But blink doesn't really do that. If it did, the spell description would say something like "You may even walk through solid material, though there is a 50%-bump-into-solid-object-chance."
How many times did you read it? Make sure it's the PHB, as the SRD doesn't have everything in it. But, yes, it most certainly does say you can move through solid objects. I promise.

Here are the advantages of blinking...half damage vs. area effect spells, 50% miss chance from attacks and targeted spells, attack as if invisible w/+2 to hit, half damage from falling. You also get a 20% miss chance to hit someone and move at 75% of your normal speed. Oh, plus the moving through solid objects ability.
I changed my mind a bit from the last post though. You get to try to walk through the tanglefoot bag. If you make your 50% chance, you walk right through it. If you don't, then you take 1d6 damage AND have a 50% chance of either landing on the other side of the bag (i.e. free) or staying put inside the tanglefoot bag. That's the rules as per the spell description.
Otherwise you run into rediculous problems with the spell. For example, someone with a ring of blinking tying a rope (or vine if the rope's not organic enough for your DM

) between himself and all other pary members so that everyone can blink. Or making the entire cavern blink just because he's touching it. It would state this in the rules if objects hitting/touching you BECOME part of you.
Do you really think a 50gp tanglefoot bag should work as well as say an Ethereal Touch (the ethereal equivalent to Ghost Touch) Net +1 that would be specifically designed for such tactics (and cost around 8000 gp!)? No way.
And as for items you are picking up, well, I'd just say if you make your 20% miss chance to actually grab it, it's yours. It might seem to be opposite of what I ruled on items hitting you, but I think there's a difference between the two. Something hitting/touching you is still not a part of you. Something you successfully pick up IS now a possession of yours. However, I can certainly see not allowing this, kind of like how if you are invisible and pick something up, it is still visible. YMMV.