If you use Blogger to power your blog and plan to make it a serious longterm project make sure you do not use Blogspot as your host. Here’s why:

• Some people will not take some Blogspot hosted blogs seriously.
• It is harder to remember (and thus recommend, subscribe, or link at) site.blogspot.com than site.com
• Blogger has limited features. If you want to add some advanced tools or features to your site tough luck.
• Search engines tend to trust sites more as they age (this is especially true with Google).
• If you move your blog away there is no easy way to get the link popularity to flow from Blogspot to your new website.

I would almost always opt for using a self hosted blog solution like WordPress or MovableType.