Graduated with a degree housed in CISE in 2005 -
They never actually granted any degrees, as they weren't a 'college'. CIS/MIS came from Business, CS came from Liberal Arts, Comp Engineering came from Engineering. Comp Engineering still had to take Chem, Physics, etc; CS had to take a foreign language (stupid libs) and CIS/MIS had to take accounting and economics.
The CISE department though is where all of those students took their 'computery' classes, most of which overlapped between degrees. Lots of opportunities for inter-college teams and projects, which was great.
I can see how there may have been some un-necessary overhead, but at the same time since there are applicable Comp-Sci-related degrees from multiple colleges, its existence made sense to me.
I don't think they'll eliminate any degrees as a result of this, but I do see resource contention being a problem eventually. Oh you're a CIS student, well then you don't need access to the lab in the Engineering building. That CS guy wants to take a database class, well too bad because the database professor is funded by the Business school.
All I know is that department has given me a great career so far, and I would think that even in this economy it probably has some of the best hiring numbers for new grads. Of course, nobody looks at those numbers, because the hires get counted for Liberal Arts, Business or Engineering instead...