I was happily writing my blog at blogspot almost three plus years. From last 2-3 days, i was evaluating with octopress for its way of writing posts, customizations, themes, and plugins. As a result of evaluation, found octopress blog as very quick & easy to write hence decided to shift from blogger to octopress.
Below post explains steps involved in migration:
Export content from blogger
First, you need to export your posts from blogger.
Goto blogger admin area and then go to settings >> other >> Export Blog and click on it. Please wait sometime and popup will comeup allowing you to download blog in xml format.

If you still finding some problem with exporting then see here
Formatting posts for octopress
Now the big challenge ! We have xml posts downloaded from blogger but octopress posts format is different.
So, we need to convert xml posts to markdown formatted octopress posts.
If you do it manually then its not an easy task but don’t worry. There is already a ruby code that will do it for you.
Thanks to Reinaldo de Souza for sharing the script. Download the import.rb script from here
Run the script against downloaded xml file
Script requires nokogiri. if you not don’t have already then install using gem install nokogiri
After successful run, this will be creating static markdown octopress formatted posts inside _posts and _drafts directories.
Copy generated posts to octopress blog posts
mv _posts/* blog/_posts/`
mv _drafts/* blog/_drafts/`This finishes migration and run rake preview and you will start seeing your blogger posts.