We'd like the 'delete' capability for Posts and Comments to be unavailable. Just being able to See and Create Posts is all we want [so technically, removing the Manage Posts, Manage Comments and Launch blog program to post could 'go away']. Is this possible?
You can create custom permission levels to achieve anything and apply them to the desired users. You can also delete any permission level you want from the site.
If you are wanting posts and comments to be available immediately, turn off the versioning and require approval settings on the Posts and Comments lists.