The two main Learning Management Systems I've worked in are Blackboard Vista and Moodle. Both are similar in scope and delivery and allow quite a bit of flexibility in the design. However Moodle is a free tool and, in my opinion, far superior to Blackboard.

Here is a screenshot of a course I designed for the USU study abroad office after I spent a month in Egypt creating and implementing a course for USAID. 

Here is a Moodle site I created. I hope to expand on it in the near future. One of my graduate classes used Moodle as a delivery tool and I've loved it ever since.