Samuel,
Agreed,both are important elements in the consideration of selecting an LMS for your institution. Other key elements are flexibility and alignment of the LMS (and its capabilities) with key programmatic and business goals of the organization. Given that instructional content is the "intellectual capital" of your institution and the outcomes of instructional delivery ultimately drive institutional effectiveness, retention and revenue growth, these are essential considerations that should be added to your list. Upon further reflection, what other capabilities would you add to your selection criteria?
Dr. Robert Roehrich