I'm not too worried about the licenses (around $7,000) due to the number of mods and great support that I've learned to love at vB.org if it's the right product for the job.
I remembered that I could do permissions for the viewing of only certain forums and I could show styles based on forum but I'm not sure about using subdomains with one installation of vBulletin. I wouldn't mind if each URL redirected to a subdomain of the master website but could different subdomains run off of the same installation for ease of maintenance? I realize I'd still need the 65 licenses but I'm trying to think of around maintaining all the different installations.
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