That is exactly what I wanted to know. You hit the mark on what I was trying to explain (my typos and all). I'm not worried about SEO at all, my business site is highly ranked on Google and Bing, so I was planning on promoting the blog on the corporate site and maybe on our Twitter account. I get more than enough hits on the company site to where I would think our blog would get half that traffic. It's not a mission critical blog nor am I expecting to make any profit from it, we just wanted to establish a blog to discuss our (the company) view on the market (we're an private investment firm) and highlight our company culture. Thats pretty much the focus.
I was asked on another forum, "was I worried about server resources". I'm not. We have three webservers for multiple business tasks but one corporate server with more than enough resources to host our own busy blog. I guess I don't want to put up with the blog upgrades and maintenance. As I said before, I know blogger and have used it for just under 10 years. CSS alterations are not a problem on Blogger/blogspot. We too have our custom domain (blog.domain.com) on blogger and I do think that helps with identity of the company.
My only true concern is content being hosted on an outside source. Still not sure and happy about hosting the content with Blogger and not on my own server. But we have decided to go with Blogger as a test, see if it works out as for our blogging goal. I have no doubts about it, long time Blogspot user here. At the same time it would be nice to transfer some of that misc web traffic to an outside source, will save us money on more server costs ... assuming the blog takes off.
Thank you Campfire, much appreciated.