Just remember: It's one thing to get school faculty and students to want you to use your product. It's another thing entirely to make administrators want to buy it.
From what I remember of Blackboard, the biggest (usability) improvements would be things that let you integrate with existing university infrastructure: things like LDAP integration, e-mail integration (submit assignments through e-mail, post messages, etc), possibly pubcookie. Blackboard may well have improved since then.
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Just remember: It's one thing to get school faculty and students to want you to use your product. It's another thing entirely to make administrators want to buy it.
From what I remember of Blackboard, the biggest (usability) improvements would be things that let you integrate with existing university infrastructure: things like LDAP integration, e-mail integration (submit assignments through e-mail, post messages, etc), possibly pubcookie. Blackboard may well have improved since then.