Is it possible with Wordpress mu to manage several different blogs but each be on its own domain(tld)? For example: I would have access to the master wordpress mu and different people would be able to manage their own blogs (and only their blogs), the blogs are each on blogblah.com, goobblog.com, etc. Looking at it as a possible solution just don't want them to have to be blah.blog.com, goob.blog.com, etc.
I don't think you can manage multiple blogs on different domains with WPMU. It will only work with subdomains or subfolders. There's a good wordpress plugin though, that will let you manage all of your Wordpress sites from only one site. Search for "kish multi" in Google for the plugin.
Kish Multi is a nice wordpress plugin. This plugin is for people who maintain multiple blogs. You can use this plugin to manage all your blogs from a single blog and can download it here