Veronica,
Thank you for articulating the challenges you and your institution have been facing in selecting an appropriate LMS for your online programs; its not an easy task! To para-phrase your response and to reinforce what I posted earlier, selection of an LMS must align with your educational and business objectives. Institutions are more likely to select an appropriate LMS if an instructional delivery strategy is carefully developed and considered a "business asset". Given your June 2013 target for a final decision, have you developed a "decision tree" format for assessing and comparing LMS characteristics against your instructional strategy and business objectives? By creating a decision tree, assets and liabilities of the different alternatives become clear and it helps eliminate some of the subjectivity that may be created by individual biases.
Dr. Robert Roehrich