WASHINGTON, D.C. – The latest evidence of financial viability of microlocal news comes from an article in the Wall Street Journal describing the Register-Star, a successful newspaper in Hudson, a town in Columbia County, New York. The formula is a familiar one: "a rich diet of local politics, education news, crime, school sports and people stories." And according to the Journal article, the Register-Star never relied on classified advertising as heavily as the major metro dailies, all of which have seen their classified ad revenue eviscerated by craigslist.com. But that's another blog; let's go back to the editorial side, to……