Very interesting article, and I fully agree that PKM (and KM, for that matter) should be simplified as much as possible to make it easier to understand.

I like your 3-step process (I use Collect, Convert, Connect and Create myself, but the essence is similar) - the 7 steps might have been more "accurate", but this is simpler (and better).

However, the one thing I disagree with is this:
"PKM is of little value unless the results are shared by connecting to others and contributing to meaningful conversations."

If you replace PKM with KM I agree with this statement. I believe PKM should help *individuals* cope with "too much information" and get more things done. You use PKM to become more effective *yourself*, and you use KM to help *others* become more effective by sharing (and a better PKM process will help you improve your KM process as well).

Well, I might also misunderstand you, as I agree with most of what you write here :-)

My 2 cents on PKM/KM:
- http://www.ppcsoft.com/blog/km-3.asp