This is the deal: I have more than one blog (not running yet) that I want to install in subfolders for one of my domains. Each blog will obviously have its own look and feel and content. I could just have a set of control panels and administer them individually or I could somehow manage them form a single control panel.

Issues I've come across are: Some plugins offer this functionality while suppressing other features like auto draf saving, in-post category and tag creation, image upload etc.

I'm not necessarily looking for a ready solution, more like some guidance on how to approach this particular problem in the best possible manner.

I'm looking for a fully working scenario, not some plugin that allows me to more or less simulate the one-blog-administration experience.