I've been using WordPress to run this blog (and others for a half dozen years) and mostly loving it. But there was always a trade-off in hosting the blogs at my own web address and not on WordPress.com, which offered a whole bunch of cool built-in features you couldn't easily duplicate on your own.
Now, WordPress has announced that they're bundling 8 of the most useful bits from WordPress.com in a super-plug-in called JetPack for self-hosted sites. And they're promising they'll add more bits over time. Excellent.
I've already added the Jetpack and started using it for editing help (After the Deadline), sharing buttons (Sharedaddy) and better visitor stats (WordPress Stats). More info is here.