System dump, but not in the default format

I would like to do a dump of all the DBs in a postgres system in the manner
of pg_dumpall, but dumping the DBs out to individual files rather than one
big one, and using a binary dump to make individual table restores easier.

Can I do this with options to pg_dumpall (or some other command I have not
noticed), or do I need to take a copy and modify the copy to do what I need?

I am running a 7.2 system if that makes a difference.

Thanks in advance

David