Primitive Screwhead said:As such a Ghost-Touch weapon basically ignores the effects of the Blink spell.
Cloak of Etherealness
This silvery-gray cloak seems to absorb light rather than be illuminated by it. On command, the cloak makes its wearer ethereal (as the ethereal jaunt spell). The effect is dismissible. The cloak works for a total of up to 10 minutes per day. This duration need not be continuous.
An ethereal creature is invisible, insubstantial, and capable of moving in any direction, even up or down, albeit at half normal speed. As an insubstantial creature, you can move through solid objects, including living creatures. An ethereal creature can see and hear on the Material Plane, but everything looks gray and ephemeral. Sight and hearing onto the Material Plane are limited to 60 feet.
Primitive Screwhead said:Hyp, the problem I run into is that the blink spell states "...An ethereal creature is invisible, incorporeal, and capable of moving in any direction, even up or down."
Which reads to me that while they are on the Etheral plane, they are also incorpereal... just like a manifested Ghost...and thereby can be hit by Ghost Touch weapons.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.