Advantages of Custom Domain for New Blogger

I have used Google Blogger (blogspot.com) for years and have been very happy so far. Google Blogger is extremely generous. Now Google Blogger have become even more generous by introducing New Blogger Custom Domain which allows you to register your own domain names so that you can have a URL which is your very own property (not a sub-domain of Blogger) and do not have the .blogspot.com at the end