For LT users without SSM options (LT2011 and lower), PUBLISH command lets you save sheetsets and recall for publishing purposes: just right-lick inside the sheet list window in the PUBLISH command's pop-up and explore creating or retrieving DSD sheet lists (just like full AutoCAD).
Not to be confused with DST files from SSM of course.
And yes, 2-DWG files to keep track of instead of one is not good, but their method of operation may be worth examining first to see if it can be better streamlined with other methods.
I know I have one dwg for nothing but PDF backgrounds, and another one to XREF it into and draw my own stuff on top of. The first drawing is an overlay, so it won't carry over when the second one is XREFd into the "master dwg". Since each pair of drawings set up this way represent a single level and area of a hospital for example, the master dwg contains all of the areas and levels as XREFs, but without any of the PDF underlays. That keeps the XREF list a lot shorter (and the master file a lot faster!). This also allows "worksharing", where more than one individual can work on different portions of what is XREF'd into the master...
Not to be picky but I think the semantics are off. Depending on who one works for or what their drafting/output needs are, AutoCAD provides this flexibility because it is meant to be many things to many people. Some might do 100% modeling, annotating, dimensioning and plotting in modelspace, and see no value in using paperspace. Some might do 100% modeling, dimensioning and annotating in modelspace, and either use paperspace for output, or not output at all -- such as reusing the modelspace content as XREFs in multiple drawings (standardized content). Some might take this one step further by creating a number of blocks in one drawing, solely for the purpose of being inserted into other drawings as blocks (a container drawing).
Paperspace is generally used for gathering up selected scaled views of a model that itself resides in modelspace, and presenting them in an arrangemement within a border and titleblock for output. They are normally (and easily) printed out at 1:1, just as modelspace is 1:1. Almost everyone who uses paperspace does most of their annotating in it, and a lot even do dimensioning in paperspace, while a lot do it in modelspace. To print a model from modelspace in several different scales requires rescaling a border and title in modelspace for each instance, plus changing the plot setup for each instance. To print different scales on the same sheet requires a model being turned into a block and then rescaled so it fits within the sheet. A lot of extra tasks are eliminated with the use of paperspace for this purpose instead.
I think you may be referring to a master model with many sheets on tabs. Or perhaps each sheet a different drawing setup. This is the same principle used in Revit, just approached from a more traditional CAD drafting viewpoint. The XREF might be considered the Central Model, which itself can only be worked on by one individual at a time. In Revit, the Central Model can be set up so several individuals can work on different parts of it at the same time, and warns you if you're trying to work on someone else's part. AutoCAD doesn't have that capability. But that model can be XREFd into several different separate sheets as a base model, so for example several MEP drafters can use it as an underlay for their work on several different areas at one time. And as long as the XREFs are set up as overlays, the MEP work (I am thinking especially of ductwork) can be XREFd back into the Central Model (again as an overlay), without creating two Captain Kirks, as it were. The Guy in Charge of the Architect's Model gets to keep making those minutiae of changes by the minute, while the duct guy gets to keep working on his sheets (and obtaining up-to-date updates of the Central Model), and every time the duct guy saves his changes, the Guy in Charge gets his or her latest duct "image" by reloading the duct guy's work. Class Dismissed!
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