This is a very basic utility that can help you recover your blog or website. Go to the utility, just type in your blog address and select a cache source to recover. Hit the 'Retrieve cache' button and voila!, your blog is back before you. However, you can reasonably expect to retrieve the cache only if your blog is quite popular among the search engines and has been around for sometime.
The utility could have been made available on this blog itself, had Blogger allowed me to put the SCRIPT HTML tags in the post, but it is not possible for obvious reasons. Anyway, do check out the site and let me know how useful you find it by leaving a comment here. More info on how to use the utility to recover all your blog posts is underway. Keep watching this space!