This said, the claim that EE can manage multiple weblogs holds true. Simply it must be clear that templates have to be created manually for each weblog and managed centrally by the administrators, without an easy way to delegate this task.
For the technically inclined, here is, IMHO, the main difference between MT and EE when it comes to handling multiple weblogspadawan.info: Update on MT vs. EE
Follow up to MT vs. EE. Are multiple weblogs a killer feature? It seems that many MT sites use multiple "blogs" for other effects (different sections, link blogs, etc.).