Read Wiki-in-the-Box – Is SharePoint Wiki Really that Bad? for an in depth look at the positive side of the Out of the Box wiki functionality in SharePoint 2007.
Set aside at least 15 minutes for this well written coverage of SharePoint Wikis. Woody Windischman, author of Microsoft Office SharePoint Designer 2007, and a prolific SharePoint blogger, explains wiki history and how to take advantage of what you’ve licensed.
In Woody’s words:
Some people look at various dedicated wiki systems, then at SharePoint, and come to the conclusion that SharePoint’s wiki just doesn’t measure up to the "best of breed". There is a big difference, however, between "not the best" and "totally inadequate".
After you read the breakdown of what the SharePoint wiki features do and how to use them, you may decide to put off that purchase of a third party alternative. There are even detailed screenshots like the one that follows:
What do you think? Are SharePoint Wiki’s bad because they aren’t the best? Or are they good, because they help you do what you need to do in a SharePoint integrated fashion? Let me know and be sure to watch out for the improvements coming in SharePoint 2010, too.