Custom domain for Blogspot - concerns about moving

[stateless]

For a few weeks now, I've been running a blog hosted at blogspot.com and it has about a hundred inbound links.

I've decided that I'd rather host it at my own domain but have a couple of concerns:

1) If I follow the blogger instructions and host the site at my own domain will I lose all of the current inbound links or will they redirect to the pages at my custom domain?

2) If I host the blog at a subdomain (name.mysite.com) will this have any drawback compared to if I host at mysite.com ?

[tedster]

Here's what they published when the custom domains were introduced:

Your old Blog*Spot address will forward to your new custom domain, so the switch will be seamless for your readers.

[buzz.blogger.com...]

That should also mean that backlinks are carried over, as they normally are in a 301 redirect. After all, this is owned by Google.