I think Ryan Tansey is luckier with his experience of how well Blackboard is used by faculty at University of Puget Sound than I have been with WebCT and University of Ballarat.
It might be interesting to see an evaluation tool for such a judgement.
In my course at UB (Advanced Diploma of Library and Information Services):
I have been happy that assignments must be posted online rather than in print, and that all assignments are accessible online. I have enjoyed using the quiz feature on those few occasions when it is part of the assessment.
It is great that course material is also posted online - although I think considerable face-to-face time is wasted not with the handout of the same thing in print because that doesn't take long, but in plowing through that print material together. To me it would be more valuable to require reading of material and an activity such as one of Ryan's professors: "generate at least one question and two comments for every reading assignment" or even better - a quiz or two - leaving class-time for discussion, clarification, valuable collaborative assessment tasks.
I have enjoyed being able to easily email lecturers whenever I am tackling a problem rather than trying to schedule a phone call during the day.