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We have been transitioning to Google Groups. Feedback from my staff:
Moving to Google Groups is not a one-to-one move in terms of features. One issue that has been fairly significant for us is that Google Groups doesn't really allow for users outside of our domain. That has been a hangup for one of our lists that we host, which contains external email addresses (we have a faculty member who is the current chair of a professional organization so we host the listserv). We can migrate all of the email addresses into Google Groups, but only the group manager will have access to the interface to update users or subscribe and unsubscribe users.