Thanks for the feedback guys. Unfortunately, I cannot recommend Radiant to our company because it is too focused on developers. I decided on WordPress 3 since it now supports custom post types natively without resorting to a plugin. The sheer number of plugins and templates for WP is amazing. The downside of WP is I'm more familiar with Ruby than PHP :( In the end, I had to choose the appropriate tool over my desire to code in Ruby. I also considered RefineryCMS but it supports a single layout for a site and has too many dependencies.
The Radiant rails3 branch seems to be mostly working after Mislav's commit. Let's see if I can create a useful extension.