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”.
5.) You can also use your autoblogs to feed to a main site, and this will definitely help tremendously in regards to SEO.
Groundwork:
1.) In the beginning, time should be spent (a few hours) to setup these sites
2.) Approximately a day or two following the initial work should be dedicated to link building and promoting.
http://www.internickmarketing.com/forum.php
The numbers game for autoblogs is pretty simple. If you have about 100 of them setup, and each one makes $1 or $2 a day, then you can come to an approximation of about how autoblogs can produce a sustainable income in the course of time.