Wordpress - Is it possible to "freeze" a WordPress blog?

Take a look at this Wordpress plugin WP Static HTML output

This plugin produces a static HTML version of your wordpress install, incredibly useful for anyone who would like the publishing power of wordpress but whose webhost doesn't allow dynamic PHP driven sites - such as MobileMe. You can run your development site on a different domain or offline, and the plugin will change all relevant URLs when you publish your site. It's a simple but powerful plugin, and after hitting the publish button, the plugin will output a ZIP file of your entire site, ready to upload straight to it's new home.