more than one blog page on a single site?

I’d like to set up a WordPress install (static homepage or blog homepage, I haven’t decided which yet) with more than one blog page within the website. WordPress MU is overkill, I don’t need several complete blogs, just a different blog page for each user (looking at anywhere from 4 to 30 users), all with the same theme, shared homepage, shared about page, etc. I hope I’m being clear about what I’m trying to do!

I’m looking at BuddyPress as well, thinking I might use the social networking aspects of that, but on it’s own it still doesn’t quite accomplish what I’m trying to do with separate blog pages each as an individual page on the same site.

Each blog page should have it’s own category list, archive, users, but preferably they should all work in a single database. I’m sure there must be a way to do this that I just haven’t yet found!