We'll be upgrading to Luminis IV as soon as possible. I'm looking forward to the improvements in the user interface. We're getting a glimpse of some of the possibilities by reviewing the online tour based on uPortal 2.3.3 put together by Virginia Tech .
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Ok, so I was going to write a nice comment but it turned into a blog post. Here's the link: http://www.whitemountaintech.net/wordpress/2006/12/07/the-evolution-of-the-web-portal-in-higher-ed/
Now if we can just get our hands on Luminis IV...
Good points. Luminis IV from SunGardHE, should be out in Q1 of '07 and should allow the PSU portal to catch up with VT's effort.