Common Codebase

Hey guys,

I could really use your expertise on this.

I'm revisiting multisites after trying a year ago without any success.

Basically, I need a setup which will allow a parent drupal site to contain all modules and themes which the children drupal sites
will use.
I want each child site to have it's own seperate database, template.php etc. There should be no sharing of information etc.
They all look to the only parent drupal site for modules and themes but their settings, users, content are entirely unique.