Hi, all
First , the good news
Google now allows me to publish my blogs on custom domains automatically. And unlike the FTP publishing option, here I don't have to buy server space for hosting content. Google will still host the content for me. Even if I move from anything.blogspot.com to anything.com, my old links would still work and Google will redirect the traffic to my new URLs. And the addresses of my blog posts saved on Digg, Del.icio.us would also work.

OK, this is awesome. But I have few questions !

1. Does this mean the PageRank of my new domain will also jump to the one that is presently held by my blogspot blog?
2. What happens to the the Adsense CPM prices

I don't believe you can transfer you PR by moving your blog to your site. Normally if you could do 301 permanent redirect, that can transfer PR and rankings. However, I am not aware of any way you can do a 301 for blogspot.

It sounds like blogger might do that now? I haven't used them, so I can't say for sure, but assuming it's a 301 redirect from the old URLs to the new ones, the search engines will sort things out and point all the current links to your new URL structure. It might take some time, though.