The clearest version of Many Worlds that I have seen is from the "Bohmians": http://arxiv.org/pdf/0903.2211.pdf

Basically, you get a mass density on physical space by integrating over the wave function. Then you have correlations of changes in the mass density. Reality becomes a bit like fuzzy tv reception with overlapping channels.

There is no splitting of the universe or any other nonsense.

I still don't like the theory, but at least it is a well-defined theory.