Depends on the needs. Our study groups need threaded discussion. So WordPress, or even Facebook groups might work. Ning doesn't give us an easy way to capture the discussions, which are important for us to "own."
some folks are switching to http://www.socialgo.com/ as an alternative: looks like it has threaded discussions. Wordpress is great... I'm inclined to go with the hosted solution rather than grow it ourselves - though the ability to capture data may then become more problematic. Elgg is another possibility.
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