Here is a post that you might find to be helpful:

http://www.kaushik.net/avinash/2007/08/standard-metrics-revisited-3-bounce-rate.html

Here is a relevant excerpt from the end of that post:

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An Exception :

There is one obvious case where bounce rate might not cough up as many insights. I am thinking of blogs.

They are a unique beast amongst online experiences: people come mostly only to read your latest post, they’ll read it and then they’ll leave. Your bounce rates will be high because of how that metric is computed, and in this scenario that is ok.

You don’t want the bounce rate to be 98%, new visitors to your blog will still come and look around and read different posts etc. But I would not worry if my bounce rate for this blog is 50%. Maybe at 75%.
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Hope this helps.

-Avinash.