The best running socks are twin skin style socks great for reducing blisters as they minimise friction.
Burst it if you dare, but remember the blister is there to protect a bruise or cut, bursting it could cause much pain. Best to let it calm down on its own, use the blister protection like compeed and use twin skin socks (not just two socks as then your foot will get too hot and increase the chances of blisters again.)
We have a new store in Birmingham city centre (nice and roomy) with lots of great items. We have 3 GAIT analysis treadmills and some happy helpful staff so check us out. Nice and local! We're open 9-6 in the week, 10-6 at the weekend.
Try Asics or Mizuno, they don't have much in the way of arch support so less to get in the way.
Asics are also nice and light, and quite roomy. If you wear some good running socks as well such as twin skins it is less likely to cause blisters as it reduces friction. An Asics 2130 or 1130 should be fine, and a Mizuno Inspire is likely to be good too!