Looking to setup a blog? Here are some things to consider:
What do you want it to look like?
You can use your current Facebook or MySpace page, but there will be little control over how the pages look. Similarly, you can use Blogger or Wordpress.com to setup a blog, but there are limited templates you can use to setup how the blog looks. Alternatively, you can use Drupal, Joomla!, or Wordpress (the software) and make the site look exactly like you want. But there are downsides to this...
Who controls the content?
Do you really want Facebook or MySpace having control over your content (i.e. pictures, posts, video, etc.)? I know I don't. Blogger and Wordpress.com will offer a better term of service, but how much better? A custom Drupal/Joomla!/Wordpress setup will allow you to control your content, but you will have to pay for hosting (or host it yourself). This comes cheap (usually about $100/year with a domain name), but some people prefer plain and simple free.
-Steve