Hopefully this will help you get a feel for what does what in the new blog feature as far as settings go.
Click the "Blog Control Panel" Link.
The first page you should see will have several of the default options.
"Allow Comments to be Posted" will disable or enable comment posting for all entries you have. It's recommended that you leave this option checked.
"Moderate Comments Before Displaying" will make in necessary for you to approve any and all comments before they are allowed to be visible to all users.
"Default Subscription Mode: Blog Entries" will allow you to automatically subscribe yourself to comments made on all of your blog entries.
"Default Subscription Mode: Blog Comments" will determine if you're automatically subscribed to blogs that you post a comment to. It's suggested that you have this set to "No email Notification."
The "Permissions and Privacy" section sets who can read or leave comments on your blog. You have a buddy list and an ignore list, as well as everyone else. It's recommended that everyone can view/comment your blog except for people on your ignore list.
Hit the "save changes" button to save changes.
Control Panel Links
On the left sidebar in the blog control panel section the link "Blog Title and Description" is where you can set a title and description to your blog. This will be displayed at the top of your blog profile.
Blog Categories appear on your blog and help you specify the topic of the entry.
Blog Categories are perhaps the least used feature so far, but also perhaps one of the most important. Click the "add new category" link to add a new category. Create several categories. Next time you post a blog you'll have the option to specify a category for that blog entry. It's highly suggested that you do this.
Blog options are what I detailed near the beginning of this post. The blog subscriptions are the comments and blogs you are subscripted to receive notices from.
Posting an Entry
You have several options available to you when posting a blog entry.
All of the categories show below the entry box are definable by you (I mentioned how to set them above). You can also set settings for this specific entry. So, for example, you want to have comments on all of your blogs but not the one you're currently posting, simply deselect the "Allow comments to be posted" button. Doing so will not disable comments for all your entries, but only for this specific one.
In the publish status section, you can publish your blog immediately, set a date for it to automatically publish itself on, or save it as a draft. If you save an entry as a draft, it won't be viewable to the public, but you can publish it later. You can also attach files and subscribe to your own entry.
I realize this isn't a brilliant tutorial/explanation, but hopefully it will help at least a little.
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