Its not quiet that robust yet, but there is some routine functionality that I'm gradually beefing up over time. You can create a routine, where you pick the exercises, make a schedule (1 or more weeks), and specify what exercise, along with reps and sets, you want for each day. Then, when you're doing the routine, it tells you which exercises to do on a particular day, and will automatically fill in the reps for you - you just enter what weight you did.
You can also easily see what your past entries were for a given exercise/date, so you can calculate what comes next without too much effort. I've thought about adding the ability to preconfigure a standard routine (like SL, SS, etc) more like you've suggested, but I'm not there quite yet
edit: I did a little write up on how to use the routines functionality on my not-very-frequented forums:
http://deekfit.com/forum/messages.aspx?TopicID=2