The Nieman Journalism Lab notes that philly.com stopped using pageviews as a measurement for their websites, instead using a complex "engagment index" to determine how many real viewers their site has. Here's the fancy formula:
Σ(Ci + Di + Ri + Li + Bi + Ii + Pi)
And the seven factors at play include the Click Index ("visits must have at least 6 pageviews, not counting photo galleries") and the Brand Index ("visits that come directly to the site by either bookmark or directly typing www.philly.com or come through search engines with keywords like “philly.com” or “inquirer”"). I wonder if this is too complex to catch on, but I'd love to see sites start measuring their traffic this way; it would probably be the death knell of slide shows as the be-all, end-all of internet journalism.