For this project I am trying a combination of techniques. I found a very basic template based on the 960 grid system. It has a simple CSS file to define the columns. I stripped the template down and modified it so that it is more or less inside-out.
I now put most formatting code in the article itself. I can invoke large chunks of re-usable code through macros, and apply a variable (such as adding a unique page background among other things). If a special extension, widget or module is needed, then these can be loaded into the grid as desired.
From the Story that has inspired this excercise. Smashing Magazine (www.smashingmagazine.com) is a good resource and I follow their articles.
I will be creating a complete Joomla tutorial for my procedures and will make this available for a small PayPal payment.
Email me if you are interested.