pt = portal.portal_types
new_id = "Blog"
if new_id in pt.objectIds():
    raise ValueError, "You've already got a content type called blog."
    
copy = pt.manage_copyObjects('News Item')
res = pt.manage_pasteObjects(copy)
temp_id = res[0]['new_id']
pt.manage_renameObjects([temp_id,], [new_id,])
typ = pt.restrictedTraverse(new_id)
typ._updateProperty("title", "Blog entry")
typ._updateProperty("allow_discussion", True)

# 2. make a smart folder called blog that reads it
folder_id = "blog"
if folder_id in portal.objectIds():
    raise ValueError, "You already have an object called blog"

portal.invokeFactory("Topic", id=folder_id)
topic = portal.restrictedTraverse(folder_id)

# add in Type and created date
type_crit = topic.addCriterion('Type','ATPortalTypeCriterion')
type_crit.setValue('Blog')
sort_crit = topic.addCriterion('created','ATSortCriterion')
utils.commit()