I like the simple elegance of it. A lot of blogs are over-cluttered and I think by making it simpler the more important design elements stand out.
However, I'd advise you add some clear, well placed links to RSS, Twitter, Facebook, etc.. Use some good icons or something. I am always frustrated when I visit a site and have to search to find those simple links. Maybe just a few running down on the right side. Just my 2 cents.