Installing a wordpress blog on your local domain may be easier than you think. My site is hosted with MediaTemple.net and they have some 1-click applications that make it easy to do just such a thing. In a few minutes, I was able to install my wordpress blog on my own domain. I was able to import my blogs posts from Blogger and it was really easy.
GoDaddy has a similar way of transferring a WordPress blog to your own domain. Now I need to get some juicy content up here.