The benefit of the portfolio in the thread you mention is that it is very, very clever integrated in this VLE. This is the point where most portfolio projects break:
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One click to far away from the school VLE..
One click to far away from the school VLE..
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So I cross my fingers for this beatiful project and my advice for every Moodler is to wait for the beta release in June(?) and sneak preview in the CVS (but on this moment it is broken says the readme.txt.. ?)