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I've built custom, used MAS, and ElevatedX. My favorite is none of the above - they all have their good side, and their bad. I'll wrap it up here:
Custom:
Pros:
It's custom
Cons:
It's custom
MAS:
Pros:
Templating is easy
Importing is easy
Adding new network sites is easy
Cons:
No automatic transcoding
Shared-ID sites for import; content rotation only works partially with this heirarchy.
ElevatedX:
Pros:
Transcodes formats, provided you have it all setup
Support and updates are generally fairly painless
Cons:
XSLT. Templating this to most people is like overhauling their engine. It's not for the faint of heart, takes forever, and quite frankly, is a pain in the ass.
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