As a former student/staff I can say anything is better than Lotus Notes. But, I am surprised Microsoft is going to pay the University to use it, especially with the Jeff Raikes support/connection.
2. Search - Maybe I missed it, but I would like to search for specific teams/players. I really think this is a must.
Overall, it really looks great, I'm just not sure when I would use it. I think an NCAA version might be used more, you could use it to compare Heisman candidates, or compare your mid-majors (like Boise St.) to majors (like Nebraska), etc.