This is the basic setup I'm trying to achieve: http://weatherbusiness.co.uk/mock.html
I'm setting up a site which will enable people to start their own blogs and which will have the option of displaying the latest blog posts (either in full or the first couple of sentences) on the home page. Ideally, it should be possible to enable guest blog posts also.
The usual social networking features ideally need to be available also, such as user profiles, some sort of messaging and/or chat feature etc.
I've given elgg a go, which is a great system but displaying whole blog posts on the homepage isn't possible in the current build.
I look forward to your suggestions...