I like Hostgator as well. They seem pretty reliable and are reasonably priced. Go with the Baby Gator plan like Craig said, as it gives you the ability to host multiple domain names. They do offer cpanel with Fantastico, so installing WordPress is as easy as a few clicks of the mouse. I think WordPress is the way to go if you do want to have your own blog on your own domain, just for ease of use reasons.
I use 1and1.com for registering my domain names. It's the cheapest price I've been able to find...$6.99US. I've never tried their hosting, so I'm not sure what it's like, although I've heard mixed reviews.
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