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Usually when talking pre-flop, people will refer to the blinds as "the blinds" or will include them in early position. The lateness of the blinds pre-flop does go some way to reducing their disadvantages, in that you get to see what everyone else does. But the vast bulk of the money in a big pot will be played post-flop, so referring to them holistically as anything other than early position is misleading.
So, by all means take the blinds' late position pre-flop into account, but remember that any time you play from the blinds post-flop, you'll be out of position. I don't think there's a better way of simplifying things.
(oh - no-one will EVER refer to the blinds as being "late position" even if it's pre-flop they're talking about, Late position is the button and the cut-off, period).
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