I happen to see a new automatically created label in Google Reader 'Blogs I'm following' with the below message. Seems like a fairly recent feature as lifehacker, blogoscoped (Lenssen) or Google OS (Chitu) have not blogged about it yet.
The blogs you follow in Blogger have been added as subscriptions in Google Reader. You can manage the blogs you follow using the Blogger dashboard. Learn more
So Google made a guinea pig out of me? :D
update: got hat-tipped from Ionut
update: the recent feature Blogs I'm following