I've recently loaded wp and spent two days getting up to speed and reading FAQs and guides. I'm not sure that wp is the best way to go, but what I'm looking for is a blog shared among a small group where the default post is private/visible to those group members, but admins can approve posts to be publicly visible.
I thought about having two different blogs, a public and a private, and then cross-posting, but that would be clunky and very time-consuming.
Oh, and please don't hesitate to suggest a plug-in that will break my installation. I'm getting used to that. :-)