For PS3. Their are no formation sub packages in M10 or M11
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Their are options but they are a pain in the........
For blitz packages as well as different offensive looks you have 2 options at the playcall screen.
At the top of the playcall screen you will see the word formation, next to it it will say "normal", scroll left or right on the D padfor options such as MLB switch or LOLB rt, coverage swap etc. Same on offense for TE wide out/slot, strong slot and so on. Any option you choose for a particular formation will become the default each time you use that formation, unless you change back to normal or another formation option.
At bottom of playcall screen look for "subs", This will bring up another screen with picture of your current formation with all your current players numbers in little green circles. Scroll D pad lft/rt/up/dn to highlight the current player/position number you want to sub out, on the left will be a list of subs available from your depth chart, scroll D pad up/dn to highlight your choice and hit x. Again, this will become your default player for that formation untill you change back to the regular starter.
I don't think their are any options for special teams formation subs in M10 but I can't remember.
Keep in mind that the play clock will be running while your doing all this, it's a pain in the ........... but with a little practice it will become second nature.
As for blitzing, I feel your pain as I play almost exclusively MLB on d. Works for me is find a player with good acc and block shed ratings, don't use turbo untill you have a clean shot and practice getting your thumb off rt stick quick as you can, r2[turbo] and rt stick up/down always result in some stupid animation once your defender is dissengaged.
Learn to use 45 deg angles on rt stick unstead of straight up/dn/lft/rt and light touch. I use hit stick sparingly and almost never on QB, use dive instead, works a lot better.
QB is programed to get rid of ball when engaged instead of taking the sack in M10 and M11. Harder to get sacks but not impossible, I am able to get a lot of pressure resulting in bad throws. I usually end up with 15 to 20 user sacks a season compared to 30 or more on PS2. Have had a few games with 3 or 4 user sacks on next gen.