If your ok with a static blog that you need to put a little work into you can use GitHub Pages and Jekyll. You have to push updates yourself but its completely free.
Instead of jumping on another similar host try optimizing your website first, installing caching plugin like W3 Total Cache would make a lot of difference. Of course, the best way to handle traffic would be with flat html files, converting your blog to Jekyll/Octopress or similar, like the sibling comments are suggesting.
