Looks like one of the main features of WPMU Pro Sites, if I remember correctly, and seems to work easily and as described. Would be nice if screenshots were offered here.
If you need it, you need it. Its a one of a kind plugin. I use it to manage my own network of sites where clients are not always to tech-savvy and we all ~ me and the other site users ~ need to be protected from them.
Never had a problem with it. It just works. If I could award six stars I would.
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