Basically, the concept behind an autoblog is that it takes material from other sites when
they've been updated, and automatically places it upon your site.
Before just taking content from other sites, there are copyright issues that should be taken
into consideration. Overall, make sure the RSS feeds you are taking content from allow
syndication in the first place.
Advantages:
1.) Bring in nice income (if done correctly) with possibly little effort after laying the
groundwork.
2.) Will help you to promote other sites and/or blogs that you may have in your marketing
arsenal.
3.) You can link yourself with all the different blogs that you setup. For example; link
blog A to blog B, then blog B to C, then C to D, and this process can be done for as long as
desired in a chain.
4.) The linking of various blogs will definitely help with SEO, although link building
outside of the network will bring in most of the link juice