While I understand your criticism, I'm not sure how it applies. MU isn't necessarily about administering a whole pile of blogs as a single unit, it's about serving a whole pile of blogs from a single codebase. The MU architecture is about scalability (for wordpress.com) for a huge number of discrete blogs, not bulk-managing related blogs. I've not seen MU make any admin task harder than it would be if every individual blog was a separate WP.org installation, but it makes upgrades, backups, etc. enormously easier.

But the bottom line is that none of the problems you attribute to MU has are specific to MU's code. Rather they're specific to MU's inherent use as a multihosting solution. You'd have all the same problems if you use WP.org to do multihosting, but without all the benefits of MU.

How does the server handle things now?
Cheers, Harry

Thanks a lot for the news. I've been waiting for the code merge as well. The BuddyPress that is for now only for WPMU will be available for WP single and that opens new possibilities for the wordpress as a CMS.