I'm on Twitter constantly for work (I'm in communications).
Basically you get out of it what you want to.
The perfect Twitter feed, IMO, is newsy without being ceaseless, if that makes sense. A mix of links to actual news, RTs of interesting stuff from others, and random opinion/insight. I don't clutter my feed with people who overshare about their breakfast or make a lot of inside jokes for their friends. Also - unlike Facebook - there's no reciprocity on Twitter. You don't have to follow someone who follows you, or vice versa. So you can be judicious.
For Notre Dame stuff I watch: Eric Hansen and Tyler James at the SBT. Brian Hamilton at the Chicago Trib. Keith Arnold. OneFootDown. IrishIllustrated. John Walters.
For national college football, there's lots (most reporters are on Twitter these days, especially in sports). But Bruce Feldman (CBS), Stewart Mandel (SI), Pat Forde (Yahoo) and Brett McMurphy (ESPN) are some of the best at it, IMO.