Note that it is possible to stack multiple percentage chances to avoid damage, as long as only one of them derives from concealment - for example, a wraith in the middle of Obscuring Mist would receive a 20% miss chance, and also a 50% chance to avoid damage from an corporeal source, for an effective 60% chance of being unaffected by an attack.
The Blink miss chance is an interesting one, since it appears to be sometimes derived from concealment (for example, if the opponent can strike ethereal creatures), and sometimes not.
Unless the opponent can strike ethereal creatures, it would seem that Blink would stack with concealment and also with incorporeality - there's a 50% chance you're on another plane, and if you aren't, there's a 50% chance the attack passes right through you, and there's also a 20% chance that they just swing at the wrong spot anyway...
-Hyp.