Well, excuse me for trying to do the OP a favor and direct him to more suitable and free software.

Originally Posted by
AvailableName
@ahstanford: I'm just looking between vB and IPB. Still haven't found a convincing opinion or answer..
Edit: Which one is better adapted for a private forum?
If you take a moment to read
vBull.net you will see that since vB was sold (I used to be an avid user of vBulletin) it has sort of gone down the tubes. It's become more and more bloated and is now considered a full-blown publishing suite. On top of that, it's quite expensive. Developmentally-speaking, it's a bit behind the times.
As for IPB - well, it was never a preferred solution of mine. I haven't used the new version - which seems to have a lot of new features. I'm not as experienced with IPB as I am with any other forum software, because it's just not of my preference. With that said, back when I used it - it had horrible SEO results due to non-semantic markup. Judging on a quick view source of their new version, nothing has changed - it appears to be highly non-semantic and generally bloated.
To answer your question directly, I would prefer to use vBulletin over IPB for a private forum due to preference and familiarity. Though, I admit I'm not entirely qualified to determine the better of the two considering I haven't used the new version of IPB.
With that said, SMF is free and I really like the software they offer. One of the great things offered with SMF is the logic flow control that is offered in the templating system - something most forums lack to offer at all. This was the reason SMF was always favorable to me - BUT... SMF is kind of in the middle of "imploding." The guy who did the majority of the programming to make SMF has left and is rumored to be creating another forum software.
You can read more on that here.
Finally, due to the "implosion" of SMF I have been using one of the younger forum software packages. This is MyBB and it's free. My only problem with MyBB is the lack of logic flow control that it offers in the templating system - but there is a mod to resolve that issue. Another perk of MyBB is that it has a thriving community with endless modifications, themes and support offered for free. For the time being, this is my forum software of choice.
Best of luck to you.
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