From the sound of it, they want something that runs itself, with end-users maintaining content. IMO that never works. When everyone can post content, and no one actively maintains it, you end up with an unusable hairball. Someone has to have a primary mission of maintaining and pruning the site or it's little better than a shared network drive.
Lucky for me, they have not fallen down that rabbit hole. SharePoint pretty much encourages that view, and like you, I have never seen it work.
The problem with SharePoint is that it is a collaboration tool, and what I'm looking for is more of an information distribution tool. We have a monthly processing cycle, and a bunch of little 2 and 3 person groups responsible for parts of that cycle. What we want is a good way for those groups to keep the other groups updated on where they are in the processing cycle.
SharePoint would work great for what I need, except that I can't pick a few pieces and integrate them into a framework I setup. Rather SharePoint is a huge framework of it's own and I'll have to integrate my stuff into it.
Jay