This is a powerful plugin that adds new privacy levels, allows you to set sitewide privacy levels and allows you to decide whether you want users to be able to override these or not!

The three new options are:

  1. I would like only logged in users to see my blog.
  2. I would like only logged in users who are registered subscribers to see my blog.
  3. I would like only administrators of this blog, and network to see my blog.

Here's options in Settings > Privacy

new privacy levels

And in Site Admin > Options

You can set these sitewide, decide whether users should be able to override them and whether you want to set these options for all new blogs or to do that AND update all blogs that have been previously created.

new site admin privacy levels

Pretty neat stuff huh :)