Sweet! Blogger in Draft just implemented a feature to exclude your own visits. It does not seam to work, yet, though.
Update: This cookie does not seem to hold it's value and work in IE (8). I realize it is just a "draft" feature, but I'm considering using the HOSTS file instead.
Update 2: Even when the cookie maintains it's value in non-IE browsers, the visits are still tracked. This new "draft" feature still has some kinks...
There is a new "Don't track your own pageviews" link in the real-time stats tab: