Google Analytics Tracking Options: Doman vs. Subdomain

I am using Donncha's domain mapping plugin for my WP multisite. Because I could not get the Google Analytics for WordPress Multisite plugin to work for me, I've decided to use the tracking code that GA provides by itself along with filters.

The first question is since my subdomains are mapped to look like top level domains, should I use the multiple top-level domains code:

<script type="text/javascript">

var _gaq = _gaq || [];
_gaq.push(['_setAccount', 'UA-XXXXXXXX-X']);
_gaq.push(['_setDomainName', 'none']);
_gaq.push(['_setAllowLinker', true]);
_gaq.push(['_trackPageview']);

(function() {
var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true;
ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';
var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s);
})();

</script>

or do I use still use the one domain with multiple subdomains code:

<script type="text/javascript">

var _gaq = _gaq || [];
_gaq.push(['_setAccount', 'UA-XXXXXXXX-X']);
_gaq.push(['_setDomainName', '.hbcufannation.com']);
_gaq.push(['_trackPageview']);

(function() {
var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true;
ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';
var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s);
})();

</script>

Secondly, based on the code that I use, what is the proper filter method to use to track the performance of each individual site without having to create a separate profile. I want to have a report that includes ALL sites in one report and then have reports for each individual blog within on profile. I have tried to find the answer on the GA site, but it is pretty confusing for me. Nobody seems to have one specific solutions.

Any suggestions?