We have a couple logos going for the Eat Local Challenge and a fellow blogger asked me for help getting her logo into a side column. I wrote out the directions for her and thought I'd post them here too in case they can help someone else. This works if you have Basic or Plus. If you have pro, you need to just add the image ref to your template.
Disclaimer: I am not claiming that this is the best way -- there is probably someone who will see my dorky way and laugh, but I know that it works.
The directions can be found here (I tried to cut and paste into Blogger but it took my text and tried to make it into image files and it was ugly).
Jennifer added the following note: One thing I did notice is that when I try to place the logo link on the left, under the "about" link, it offest my entire blog in a bad way. It worked much better either at the end of the typelists on the left or at the top or bottom of the right. Not sure why this is, though.