In an attempt to catch up with rival blog hosts, Google on Monday unveiled a new and improved Blogger with some new features.
The new Blogger Beta lets blogger categorize the post with labels, You can also modify template without any HTML knowledge (Must be something similar to Widgets in Wordpress.com) and you can decide who will read your blog. Sounds fun right ? Now here comes the fine prints..
As I said earlier, Its still in its Beta, so as of now only few blogger can upgrade their blogs to new Blogger. However if your really interested, you can create a new blog on Blogger Beta. Google has also mentioned that it has plans to hook up Blogger Accounts with Google Accounts System

wrote, on August 28th, 2008
I have a second fun blog with blogger and i was unable to upgrade so i don’t know how it works. Will keep trying, maybe they might offer it to us at some stage.