Eric Case of the Blogger team writes about Google Blog's to new home at Blogspot. However, you don't need to resubscribe - the old Atom feed is being redirected to its new URL.
The old blog at http://www.google.com/googleblog/ is no longer updated. Google folks have even added a blogroll in this new blog which to my surprise includes blogs of their main competitors - AJ, MSN and Yahoo!. Scoble was also present.