Actually one blog still keeps decent traffic.
I'm scared of moving this blog to a new DOMAIN because google could see an important section of the domain disappearing and, using 301 redirects, I'll still bring with me bad links coming from the pharma hack.
Moving both to new domains will probably help with the manual penalty problem.
I think the main question now is: is google considering subdomains as part of the main website? Do subdomains affect (positively or negatively) the main website?