I don't analyze my blog stats very much. First, I find Google Analytics somewhat confusing, and secondly, they aren't all that important to me (but yes, of course I love when they get higher). What I love looking at the most, though, is the location of people. It's fun for me to see that someone in some town I've never heard of is reading my blog.
If you are a blogger, what stats about your blog do you tend to look at the most?