not really a base install database size of wordpress is about 300 Kb
a wp site in base form is about 2Mb
there are theoretical limits to how many tables you can define but I can summarize them by saying that the actual limits will depend mostly on what type of operating system you have and how big your disks are. I have never heard of any one needing more tables than they could create. mysql stores tables as files.
I would assume that a few thousand tables wouldn't be too many for most modern hard drives to handle. How many were you worried about?
If your intent is to create a full blown blog farm with this (100's of users and more) I would advice to contact me to make a custom version and be prepared to invest in some major hardware and run the thing on a mysql farm or on Oracle
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