To make it real simple here is what I would do:
1. Sign-up for a host account with http://inmotionhosting.com/ they are cheap and reliable. I have been with them for a year and not had any dramas. When I send requests to them they are really fast to respond, with-in an hour normally. I got their – Power – $US8.95/mo – Top Choice for Small Business. Use the free domain for like a personal blog.
2. Buy a domain off http://www.crazydomains.com.au/ $AU12.95 .com.au $AU12 .com. Cheaper the GoDaddy. I never again let my host register a critical domain. If you have problems with the host it is too much of a pain reclaim your domain. You can use http://www.toolnames.com or http://www.CreateMy.com.au to find a domain name.
3. Set crazydomains to point your domains to the immotionhosting DSN
4. Set up the domains as Add-on domains in the cPanel of your inmotionhosting account
5. Use Fantastico in cPanel to install WordPress. This is the very easiest way to install WP.
6. Setup your WP site. It takes seconds to setup pages and posts. Install the Google Analytics and All in One SEO Pack.