I've spent most of my Christian life in the Black Church, so I know a little about Black Liberation Theology.
It's modeled after the plight of the Jews in Egypt. There 400 years of captivity modeled the near 400 years of Black slavery and oppression here. Blacks saw their plight thru the eyes of the OT Jews, and so much of it's theology stems from it, and saw the U.S. overall as the Egyptians.
Such a model I feel empowered Blacks when overt oppression and racism fostered. It helped many to believe that just as God delivered the Jews from their oppressors, that He would deliver Black and brown-skinned people from theirs.
Rev. Wright certainly came of age in the 50's and 60's and the Black Power movement certainly gained prominence over the Civil Rights Movement - especially after the death of MLK and Malcolm X. Also given that he's based out of Chicago South Side,it's no wonder that B.L.T. would be a cornerstone of his theology.
It could be today however, that it has run it's course. It definately puts more emphasis on Black advancement often over the simple message of the Gospel, and the brother/sisterhood of all believers. It works much better locally in depressed neighborhoods and mostly Black audiences, but it certainly doesn't play well nationally, which of course is why Obama's association with Wright and B.L.T. has been a problem, because he's trying to be a NATIONAL leader.
I don't condemn B.L.T. out of hand, but I believe it does not serve as many as well as it perhaps once did.