Domain + blog without hosting
Having a domain name and a blog without a host means that you will have your own url (like "example.com") and it will go to your blog. You will not be able to set up a custom site with other stuff on it (like mcrackan.com is laid out). On the plus side though, you only have to pay your yearly fee for the domain name and have no monthly hosting fees.
Blogger/Google has a wonderful step by step write-up on how to set up your blog with your domain name: How do I use a custom domain name on my blog?
In addition to Blogger, there's probably a way to do this with Google Sites as well but I haven't looked into how. Check Google Sites' help section.