Custom LMS Anymore?

Happy new year.  I took some time off from blogging over the holidays.  I’m just now getting back into the swing of things.  To help me get moving, I just posted Storyboard Templates and iPhones – Best of December 2009 over on eLearning Learning.  Some great content posted back in December that I need to go back and review.

I’m hoping that folks might be able to help someone who just sent me a question. 

This is a company that sells mostly compliance training to the healthcare market (Hospitals, healthcare practices, individual physicians etc…).  They have a licensed LMS, but want to move away from it and build a custom LMS that meets their specific needs.

Their questions:

1. What are some features that they might not be thinking about that people will be asking for in the near future?  In their words, “what is the need of the hour”?

2. Is it a good idea to start with an open source LMS?  Their team strength is principally .NET, ASP 2.0.  Are there  any open source LMS on those technologies?

And my question:

3. Does it make that much sense to build a custom LMS anymore?  I’ve seen it numerous times, but I feel like some of the low cost LMS or rapid LMS solutions would make more sense?

Appreciate any thoughts you have on this.