I'm in the minority group that defended him for throwing that punch. However, I did not condone his actions afterward. His suspension resulted from <span style="font-style: italic;">all</span> of his actions that night in addition to a prior history of problems.
They should stand by the original punishment. If I recall correctly, he did not lose his scholarship. He is a senior and has the opportunity to earn a free degree from a quality institution.
This is very different from Michael Vick in that the everyone has the right to earn a living based on whatever skill-set they have. Vick is a piece of ****, but if somebody wants to pay him to play football, he should be able to. Blount, on the other hand, is an amateur college football player. That is a privilege. He acted like an ***, but lost that privilege. He should consider himself lucky that he still has the opportunity at a free education. Many people would kill for that.