Hi Silver Eyed Wolf,
Firstly, you have a very uncommon username. I like it.
Secondly, my answer. We cannot say HubPages as your own blog, we can say 60% of yours and 40% of HubPages' as per their profit sharing algorithm.
Simply it is not like, blogger.com. HubPages drive traffic to your blog even you do not do any promotion. You can even get huge traffic even very first day of your hub here. So in that case it is much better than having a personal blog. Likewise their are many differences, advantages and disadvantages between personal blog & HubPages.
So my openion is having personal blog is different than writing in HubPages. It is better to have both. If your objective is earning money, then it is better to have more options not only personal blog or HubPages. Sorry, Im out of the quiz.
Anyway I hope this would help you to clear your mind. If you need any help, let me know. Im happy to help you.