Is it worth it to setup a WordPress Multisite Blog and how do you do it? The answer to the first part of the question is yes. I run my MCUniverse website as a multisite blog and am very happy with it. I installed Wordpress once and then Instead of having to update each site individually, I update one site and am done.
This article has great instructions on how to setup a WP multisite: How To Enable Multisite On Your WordPress 3.0+ Blog