Hey Amber,
You can absolutely create additional stages to your programs, so if you want to have the visibility to *which* email was opened, it's totally possible to do. I suggest creating a new Channel tag in the admin section called "Email Drip", and add all the statuses you think you'll need: Sent, Delivered, Opened Email 1, Clicked Email 1, Opened Email 2, Clicked Email 2, etc. That said, a program member can only have one status at a time. So they can't be "Opened Email 1" and "Opened Email 2" at once. It has to be one or the other.
For this reason, program reporting won't totally replace looking at the raw campaign stats on the smart campaigns themselves, but it can at least get your program membership in order. When I'm looking at program member data, I care less about which email was opened or clicked, but rather that *something* was opened or clicked. If I want to dig deep into which email performs better than another, I'm either looking directly at the smart campaign report, or running separate programs entirely.
Hope this helps!