I have been blogging at daust.blogspot.com for quite some years now ... and many people have rather preferred wordpress to blogspot, I can now understand why :).
It is quite flexible and easy to use and there are tons of themes available ... really cool ones.
The main decision to host my own wordpress instance was in the end motivated by different means. I have created two products and they needed a platform to be presented:
I then decided to host my content using wordpress since I have already bought a new theme: http://www.kriesi.at/themedemo/?theme=enfold
And this one has a really easy setup procedure for wordpress and comes with a ton of effects and wizards, cool page designer, etc.
Hopefully this will get mit motivated to post more frequently ... we will see ;).