Um, your two choices are really one. Blackboard bought out WebCT, so Blackboard pretty much owns the "Learning Management System" market.
And yes, it's a crappy system. Our university lost Bb service for an entire week -- during exams, no less -- because Bb allowed a corrupted database to be backed up so far back that when no one could download or upload files, Bb and their Oracle consultants had no choice but to rebuild. Not to mention the lack of communication from Bb on when they were taking down the system to fix the problem; they would say "We won't touch the system from 9am to 5pm" and promptly take it down at 1pm to try a new fix, without any advance warning.
WebCT wasn't a great system, but at least it worked and wasn't resource-intensive. Bb runs these painfully-slow Java applets that waste their time pinging the home server, require the Java applet to upload files (you can upload by HTML form but it still needs the Java applet to get to the upload page), and Bb will break if you try to use multiple tabs or if your browser crashes. It's too bad Bb did end-of-life on WebCT, but of course it makes perfect business sense to Bb.
These problems have pissed off so many faculty members that it might be forcing the administration to reconsider the Bb contract. So yes, I agree, it's administration and faculty that drive IT decisions, not IT.