I realize now that my negative assessment of P. Diddy’s prospects inspired by my reaction to his appearance at CTIA Wireless, his difficulties at Blue Flame Marketing + Advertising and a variety of other problems, including a lawsuit in the fall for alleged assault, didn’t mean the guy’s career was over. I guess I’ll just have to forgive him for pretending he can dance and inflicting Mase on the world and accept that this cat’s got legs.

Not only have Diddy and MTV announced an executive producer position for P. Diddy and a first-look production agreement with Bad Boy Entertainment, he says to expect a wireless announcement soon, because “everything is creating a content empire.”

Already Diddy’s exec activity has resulted in signing Rev. Run for an MTV reality show titled Run’s House. Plus, in addition to producing Making The Band 3 and Borrow My Crew, he’s developing a special called The Show about the upcoming launch of his women’s fashion line.

Furthermore, rumors are circulating that a signing may be in the works for American Idol escapee Mario Vazquez who would have been committed to RCA Records if he’d gone on to win. Other rumors suggest that he’s bringing in Common and Talib Kweli to write lyrics and Kanye West to produce tracks for what may be his last solo album, so he may be “retiring” like Jay-Z.

In closing, last month a film deal with Paramount Pictures and MTV Films to develop a heist action-comedy was announced. He did just keynote at CTIA and his Superbowl ad was a winner for Diet Pepsi. And, although he may not like the valuation, his partnership with Warner Music Group is a big deal. And there’s some other good news but I think I’ve made my new point.

So, even though he’s now being sued by Columbia Pictures and a coat that Diddy supposedly had custom made but didn’t pick up didn’t sell on Ebay, I obviously focused on the wrong trees and missed the forest. Honestly, I just let my personal feelings undermine my analysis. What can I say? It’s P. Diddy’s world. I’m just blogging in it.