lol, exactly. OR, if you have a hosted blog outside of WP you can just use a multi author Wordpress theme. I'm running one on my blog right now and it's pretty nifty.
I don't think WordPress MU is what you are looking for. That's for running multiple blogs. The default install of WP will work fine, just setup multiple authors on it in your admin panel. I run one, and we have hacked a theme together that puts the photo of the author next to the corresponding posts and has a mini bio in the single.php file. It's super easy to do. PM if you want the files. I'd be happy to pass them along to you free.
You pretty much just need to assign roles to other authors and give them permission to post/edit. I think there's a Role Manager Plugin for Wordpress that does that ..