Good, better, best?

Autoblogging is overrated. Nearly all methods require scraped (aka illegal) content to fill their sites. Some methods will rewrite the content and make it illegible. Others will simply leave it as-is opening you up to DMCA notices for copyright infringement.

That said, blogging does work...and setting up multiple blogs works as well. The best way to do it is with original content. This will guarantee rankings...which is the original basis for autoblogging anyways.

Using free themes is the best way to go and up to personal taste. I've personally settled on themes with less "outbound" links. Other's prefer the social aspect of sidebars, social engine links, etc. I recommend free themes because Google tends to think this is more natural. If you use them, try killing sidebars and extra pages to see if it improves conversions.

As for programs, you'll quickly grow tired of setting up each blog. Fantastico helps...but damn it gets repetitive. Once you're ready to upgrade, look into WPManager DX, Firepow or PGB. All can automate the process. I personally use Firepow and PGB and find them very powerful. The info you'll learn 'inside' these memberships will quickly get you started on the right foot.

Ultimately, the gold is in your content. Unique and powerful content will always convert well and beat out the incomprehensible autoblogs out there. After all, it's humans surfing...not robots.

Good luck.

P.S. You need a better title.

Yes, thats possible indeed.