I have a bad feeling about this. This is a beta version of vBulletin 3.0. It is called beta because the developers themselves know there are bugs and possibly exploits in the software. You should never install beta software unless you are 100% sure what you are doing, that is, in this case 1) You know PHP and want to hack around with the software to find bugs before someone else does or 2) You are very well aware of at least basic administrative precautions, because beta software is always full of bugs, and people exploit software full of bugs just because they can and because the information is freely available how to do so on the Internet.
I would switch back to 2.x.x and wait for at least vBulletin 3.0.0 RC1 (RC is for release candidate, that is when the developers have fixed most bugs and are ready to call the release stable, that is the step right after vBulletin BETA but right before vBulletin 3.0.0). Why? Soon someone will find a major security hole in the software, and as soon the vBulletin people knows about it they will post information about it on their website. Unless Morrus then shuts down his forum and upgrade the software, anyone can wreck havoc on ENWorld. That's the problem with beta software. You ALWAYS HAVE TO install the latest beta when it becomes available, or you are in big trouble.
Regarding the features. The more features = the slower software. The more users = the slower server. The more features = the messier code = the more bandwidth wasted. Final verdict = vBulletin 3.0.0 will cost Morrus lots of money, it will be a slow experience for you and me, and there will probably be lots of bugs and trouble.
The short version: All these "nifty features" are a nightmare if you know something about programming and how Internet works.
The D&D anthology: The only book you really need to play Dungeons & Dragons is the SRD. In forum software terms, the SRD is equivalent of reading a thread and being able to post a reply on a webpage. Nothing fancy. If you want a cute forum that is enough for most people, compare it with PHB. If you want features like "search", "smilies", "signatures"… Throw in some splatbooks…
Your typical gamer will probably bring some 5-6 books to his gaming buddies when he plays Dungeons & Dragons. 5-6 books is your typical forum without that many features, like
www.phpbb.com (say 5-6 books),
www.invisionboards.com (say 5-6 books) or
www.punbb.org (about 2 books, very fast and light-weight).
Your typical gamer can carry his 5-6 books in a back-pack. VBulletin on the other hand is the kind of gamer who drives his car 100 yards to his friend’s house so he can bring all his 45 lbs worth of books to the house. Slow and horrible experience for the rest of the gamers.