Change Blog Pagination to Next Article Link

First, let me say that I've really enjoyed the little bit of time I've had to tinker with the site and theme. It's obvious there's a lot of care put into the product.

I would like to alter my main blog pagination to simply show a link to the previous entry (referencing the title) and (optionally if available) a link forward to the next most recent entry. This is already possible on the single-post view (although I will have future posts surrounding the customization of this look).

Ideally, I would like the link to the previous post to appear with an arrow and the post title, along the bottom and on the left side of the view, such as this:

< Previous Post Title

Alternatively, if there is a more recent post, the same thing would appear on the right side of the navigation area:

More Recent Post Title >

Is there an easier way to achieve this? Basically, when a user visits my site, I'd like for them to see the most recent post and navigate along the bottom, back through the archives sequentially. Alternatively, they can use the 'Archives' link in the sidebar to quickly navigate to a specific post.