I have read this article using Wordpress as a CMS and come to think of it, it is actually very powerful. It is important to choose a reliable and good CMS as the backbone of your website because when trend changes throughout the Internet, such as Web 2.0 taking place, there is needs to comply in order to capture the new users.
Personally I own a Malaysia Property Classifieds. The script was bought 3 years ago when I had no idea what is Wordpress. This script is great and it is working well until today, but there is limitation on how I could edit them because I have lack of php knowledge. On the other hand, Wordpress is a lot more easier to edit with the way they have their API for developers. It is easily understood and I had no problem editing plugins and themes.
Currently, it is possible to have Classifieds plugin for Wordpress. by using the proper posting form. After few tries, I recommend TDO Mini Forms, as it is complete with all the function and fields you need to run a classifieds. The form is easily configured using dragable widgets.
This plugins is also suitable to be an article directory, whereby everyone is a reporter and are allowed to post their article on your website. There is captcha and various security measures to limit spam too. You will need them when you grow to be big.
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