It seems like Movable Type does pretty much everything I want it to do for a weblog, and the upcoming v2.0 looks even better. In one sense, I'm not satisfied with the fact that all it does it maintain a static set of pages rather than being a dynamic app... but then I think, do I really need anything more than that? I mean, the one dynamic thing I have on the front page is the recent wiki changes, and that's a server-side include (that almost seems retro to me). Seems to work fine.
The main reason I have a tiny doubt is just having checked out Slashcode again and remembering all the neato stuff it does, including its own wiki plugin. software.tangent.org uses Slashcode, but then they're Slashcode contributors over there if I recall.
I could see MT choking if I had tons of content. Say I update my site's templates again and it has to rebuild everything. Eh, that's a degenerate and least frequent case. And I've got the source, so I could pry my content out of it if I had to.
As things are, the template system is dead simple, and I've started creating categories. Everything Just Works. Maybe I'll go drop a donation in their hat next week...