I have used my form to add a message about informing readers that I have removed 'nofollow' and requesting input as to new blogger features or add-ins. If you want to learn more about 'nofollow' please see my guest post on BlogBlond's site at: NoFollow, NoGood for Bloggers
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You can use this for other purposes too. For example Digital Inspiration is using it for displaying a Comments Policy. Their article about it can be seen at New! Add Visitor Comments Policy to Your Blogger Blog.
I would be pleased to hear about how other blogs are using the feature.