I've got about 1500 drupal sites running right now on a free hosting site.
Not sure if that qualifies me to make this statement:
stay the hell away from drupal.
Drupal is a great concept executed poorly. There is no upgrade path between major versions and the 'modular' approach is taken to such an extreme that you'll depend on some cranky maintainer somewhere (who more often than not can't be bothered to fix all the known bugs in his/her module even if you send them a patch) for basic functionality.
read this if you have the time:
From version to version modules are not supported or changed so much that you end up rewriting your stuff completely. Databases do not port from one major release to another. There is no strong policy of maintaining backwards compatibility.
This is a major reason why plenty of sites are still running on older versions of drupal. Not that they wouldn't like to make the switch to the newer version, they simply can't.
My personal website still runs on drupal but at the first opportunity it will switch away from that.
good luck.
With whatever initial forays I had in drupal, I agree with you on all the points. I dont see how drupal saves my time. But then I strongly need a CMS instead of writing everything from scratch.
Drupal seems to be a strong contender in that case.
Drupal is really a fantastic idea, I just wished they got their act together. It's a real pity because something very much like drupal is badly needed.
Their lack of an upgrade path is killing their ability to keep users.
People will try it, invest in it and then the problems start. Maybe you'll find that the theme you are using is not actively maintained, maybe the module that you used and now depend on has a bug in it that you are not experienced enough to fix and so on. Slowly the rot sets in. Then a new version of drupal comes out and you try to upgrade.
If you do go with drupal be sure you subscribe to their security alerts list, security bugs are found almost daily, if you have a module that has a fault in it and you're not aware of this then you can bet your life you'll be owned.
Just like you I'm still searching for that 'perfect CMS', I've definitely learned the hard way that drupal is not it.
It could be though, and maybe at some point there will be a change of attitude there.
have you looked at this ?
I have used Drupal and went through the pain to understand it (took about twenty days to become proficient). It can do what you want, but got a lot of other limitations. If PHP is your way, I would go with a framework, either Kohana, CodeIgniter or CakePHP in that order and hack the rest.