Brian Moon has released a simple blogging application he's worked up - a super-simple, lightweight application that already has several of the common blog features built in.
Up until now, I have used Wordpress.com for my blogging. It works quite well. You can get started quite quickly and it does what most people need. My wife uses Blogger for our family blog. It is, IMO, not as nice as Wordpress.com in some ways. But, it does allow you to edit your styles (for free) and such which is nice. So, why would I want to reinvent the wheel? I am a control freak and rarely run other people's code. I know, it is a character flaw. I am working on it.
His application, WordCraft, already includes things like Akismet/CAPTCHA support for comments, custom page creation, pingback support, temlpating and email notifications. You can download the latest release (version 0.5) from his google code page.