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Maven receives a lot of flack, but it works just fine once you get your head around it. My biggest tip is don't use multiprojects if you can avoid it, as there are property inheritence issues with Maven versions up to and including 1.0.2.
We recently migrated Acegi Security to use Maven, and it works just fine. We have some more unusual (though not unheard of) requirements, like JAR signing and DocBook generation. We now receive identical results from Ant or Maven, and deleted the Ant build entirely. You can try out building and see for yourself by viewing the "building" page at http://acegisecurity.sourceforge.net
Acegi Technology also uses Maven for our own projects. I personally quite like it, as it's nice having CVS free of JARs.
Would it make sense for the authors of OSS to manufacture POM's and upload POM's / jars to Ibibio as new releases become available? How many people out there are attempting to do this (locally), and incorrectly specifying the POM dependencies or missing out jars in a multi-module environment. For example spring-mock appears to missing from Spring 1.2.5 @ Ibibio
Colin and I are co-presenting training in New York right now, and this exact question came up. Truth is there are pros and cons to both products and you are unlikely to encounter fundamental limitations with either of them. Colin still prefers Ivy, and I still prefer Maven 2. :-)