I've always liked the programming-languages community website Lambda the Ultimate, and recently I went looking for something similar for the High-Performance Computing community. I didn't find exactly that*, but I did find a few great resources for news about HPC and computing research policy:
HPCWire is a well-known news source for HPC. It has daily news updates, and occasional columns by guests from around the industry. Most of the news is press releases from companies and government labs, but it's nice to have a single place to check for them. However, there is apparently no RSS feed, and to get email updates, you have to buy a subscription. I haven't, but I do check back occasionally to read the columns.
Supercomputing Online is another professional news outlet, which reads a little less like a press release, seems to have more coverage of academic news, and does have an RSS feed.
insideHPC.com is more of a weblog than either of the first two - John E. West covers news stories in brief with some added perspective and analysis. I like his approach, and I've joined him to help cover academic HPC issues, both computing research and issues affecting computational scientists.
One of many blogs at Sun is the HPC Watercooler, covering Sun's HPC products and services, as well as some non-Sun related news. I've found it pretty interesting already, and I'd be interested to see weblogs from other HPC vendors.
Finally, a couple of blogs that are less directly related to HPC but still very relevant for computing researchers, are Dan Reed's weblog at the Renaissance Computing Institute, and the CRA Computing Research Policy Blog, both of which cover computing research policy and funding issues that don't often show up in news coverage of either government or computing.
* - if anyone wants to start an LTU-alike site for HPC research, or point me to one, I'll sign up and contribute in an instant.