NET11 - Module 2 - Lists

Another busy week, keeping up with that forum, work, selling our house and car and went for a job interview - busy times !
What are the pros and cons of email lists versus discussion boards?

Email List Pro's
public many-to-many conversations
all list members can see interchange
connect people with shared interests

Email List Cons
lists and the reply option don't work well together
you need to use your instincts for what kind of reply is required
Lists and attachments, formatting etc also don't mix well.

Discussion Board Pro's
Good collaboration and information source
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Discussion Board Cons
Topic can get diluted and go off on tangents
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Are there certain kinds of communication or purposes more suited to one than the other?
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I got a bit stuck here as there wasnt enough material on discussion forums. I researched some of the following sites :
I googled 'discussion board cons' and all kinds of variations. Most results launched directly in the a forum or discussion.
The Webct forum shows that someone has read a post of mine and is showing the group their newfound knowledge ... funny using define: in Google.