I think there is no restriction for blog submission because admin has not mentioned in any update.
Yes ! Of course, members are allowed to make new blogs. But their criteria to approve is very strict.
@shirish5 and @smith both are correct. We can make new blogs and publish them. But need to be careful because they need for approval.
I would feel that if you submitted a well written Blog article with the focus of helping others learn something from it then yes you can submit them still. But be careful as everyone is correct that the Blog submissions are very strict.
After going to the Blog and looking around I do not see any way to submit a Blog article anymore. So I would say no to the Posting a Blog Article now.
Just incase no one has noticed @admin has now setup a new Blogging System that is aimed at providing quality articles from other sites that provide a article already. So if you read this post or answer I would consider going to the Blog and checking it out.