Yesterday, WordPress 3.0 was released. In my opinion, this version has set it up well to give Joomla a run for its money. The feature that has sealed the deal for me is the ability to now create menus and publish them in various menu positions just like you would do with widgets.
Also the post types feature is a big plus as now you can have pages, posts and other types of posts. A good example of how this would be used is in the I could create a new type of posts say portfolio which will have a collection of all portfolio items in the website.
WordPress and WordPress MU have been merged into one. You can watch the video below to get what else is new in WP 3.0.