This issue hasn't been touched on in a while ... there's been a lot of progress in CMSs since we talked about the possibilities last summer.
We have targeted summer this year to get a working model of a CMS up and running. Coincidentally, I was going down a checklist of CMS technical and functional attributes on Saturday afternoon as I listened to the Huskers get beat by Kansas in the first game of the doubleheader. Disqualified most of them right off the bat because of their bolted-at-the-hip relationship to HTML tables for layout. (Including phpWebsite.) I agree with you: Xaraya, to me, looks like the best of the lot. It's forward-looking in terms of standards, and is pretty 'featureful' and capable, at least according to its marketing materials.
I installed it on my home server, but have some permissions issues to address before I can do anything with it.
Do you have anything running in Xaraya?
And if anyone else who's reading this has any investment or interest in a CMS, I second the motion ... http://xaraya.com