In our Web CMS Report, we call out MOSS 2007 for having "perhaps the highest fee structure in its class," -- by which we mean among mid-market and departmental solutions -- particularly when used as a Web CMS for a public site. Seems others agree.

Note, for example, some fine analysis by Brice Dunwoodie et. al. over at CMS Wire. Brice comes to this conclusion from real-world experience, since his consulting firm Cylogy has implemented both MOSS 2007 and its precursor, Microsoft Content Management Server (MCMS) for several clients.

Because of certain functional limitations, we generally only recommend considering MOSS for Intranet scenarios (and even then, really just at the departmental level). Clearly there are financial reasons to keep a close eye on this as well.