Does BP lose it's blog features if not ing MS mode?

Here’s another noob question.

Does BuddyPress lose it’s blog capabilities if not in multi-site set up?

I decided to use it in single site mode because MS takes over the whole domain and I can no longer use any sub domains separated for design projects. Also, I can customize the single BP installs a little more then the MS BP installs.

I noticed the “Blog” link is no longer available. Is there a plug in for blogs in single site mode?

Can I set up a page and call it Blog and redirect the posts to that page?

I saw group blog plug in, and that would work if I could feed it into the site wide activity stream.

Thanks for all