Really quick question – Google Analytics

I created a Profile on Google Analytics for http://www.example.com because I want to track the regular pages of the site.

Because WordPress is at http://www.example.com/blog, do I need to create a separate profile for http://www.example.com/blog??

Does Google Analytics know that it needs to look inside subdirectories of the website? (yes, I know I need to put the script code on all pages). If yes.. then if I just have ONE profile for http://www.example.com, am I ok then? Or need a separate one for the Blog directory?

On the blog, I put the script code before the /head tag because I prefer that it runs BEFORE any other script, just in case. No prob right?

Thanks for your help!!

Alex