Cristi's overall assessment of CMS for ACS 4.x will receive no major objections from me. UI and ACS integration were both sore points for that release.
I would actually discourage OpenACS developers from doing an as-is port of the UI. The 5.0 version of CMS will have a completely redesigned UI, reflecting the lessons we've learned in the past 6 months. Even though we're building it in Java I hope that there will at least be some opportunity for collaboration with OpenACS on UI.
After working through some delays, within a week or so we should have design docs and wireframes of the new UI ready for review. I'll post then.