Cheating is an aspect, which you haven't mentioned in your original post. Sure, the computer made so many things efficient and made other things feasible, which were even unthinkable before. And there are less successful application areas too. Exams are one of them. It is inherent to the client-server architecture, not a problem of Moodle, so _Moodle_ can't offer solutions on its own. A common, at least publicly available, approach is the combination of Moodle and the Safe Exam Browser (SEB), which works pretty well in computer labs own and maintained by the organization, which conducts the examination. Again those three things alone guarantee nothing. There need to be (human) supervision!
Your project is an extreme one - I don't expect the campus to provide 1000 computers installed and configured for SEB and shuffle the participants in 30 min periods for days and produce as many series of exams. When ThinkExam says it has solutions to all that, they must have something radically different. I am very, very interested to hear their approach. So please do keep in touch.
And don't forget the fun, this is a promising one!
P.S. Did you look for similar threads in this forum, as I have asked some time back? Read this for example, How to replicate in moodle?