Room Reservations is available from the contrib directory on CVS
http://cvs.openacs.org/cvs/openacs-4/contrib/packages/room-reservation/
And for the record I agree with both of you. :)
David: Yes, a huge problem with marketing openacs is it is hard to communicate to any one market that yes it solves your problem. I don't think we are alone in this. I hear proprietary platforms like Lotus Notes face the same challenges. Of course they have a bit more marketing resources to put towards the challenge.
Ben: Yes, I'd also like "Room Reservation" to move toward becoming a service package (Resource Reservations perhaps?) that you can build reservation applications on top of. (e.g. appointment booking)