After years and years of thinking about it, I just registered a domain for this blog with Moniker.com.
It probably doesn't do anything for SEO at all... all it does it give me the options to perhaps host a classifieds or a Q&A site on subdomains of this blog (thinking thinking).
Blogger is pretty good... I managed to get it up and running within minutes. Moniker on the other hand, is the most non-obvious and clunky thing ever (mostly undocumented by Google too!).
1. At moniker, click on 'Domain Manager'
2. Click the checkbox next to your domain then click on 'Zone Records: IP, MX, etc.'
3. Click on your domain name.
4. Click on the checkboxes for the records that are already existing and then click 'Save' to delete them (kinda weird).
5. Add the CNAME ghs.google.com by selecting 'CNAME' from the 'record type' box, put 'www' in the 'address' box then click 'Add'
6. One-by-one, Add the A records by selecting 'A(Address)' from the 'record type' box, put '*' in the 'address' box then click 'Add' for the following four addresses:
That's the Moniker part over and done with.
7. Next, go to your existing blogger account and click on 'Settings' then 'Publishing'
8. From there you can go to 'Advanced Settings' and enter the domain name that you bought and check the 'Redirect blahblahblah.com to www.blahblahblah.com'
Then you're done!
The good thing about this is that any links to your old blahblahblah.blogspot.com will be redirected to your new domain. So all backlinks to your site should still work. Woo hoo!