I find that it takes about 17 more steps to accomplish anything in WebCT than in Blackboard. Mind you, I’m still not entirely sold on either as a content management system, but at least Blackboard worked without requiring me to do stupid things like “Update student view” on a regular basis. Not to mention that its grading system worked about 70% right, as opposed to WebCT's which manages about 40% on my scale. (I still had to calculate final grades using a spreadsheet formula with Blackboard because of my bizarre insistence on weighing exam grades based on student performance, but at least it could do a quiz average trivially... instead of making me produce a formula for that too, which appears to be WebCT’s approach.)
If it weren’t for the hassle and the FERPA issues, I’d just run Moodle on my Mac mini and be done with it.