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I'd like to preface my answer by saying that first and foremost, a good LMS MUST be learner-centric. Most enterprise Learning Management Systems I've experienced have been so anti-learner that my pessimism towards Learning Management Systems have increased greatly over the years.Since this question is centered around the instructional designer, I will focus on that perspective. Before I move on, I want to briefly discuss my own definition of an instructional designer since many organizations have different expectations of what an instructional designer does.My definition: An instructional designer designs learning experiences that solves learning problems and drives a positive change in learner behavior and performance.Certain misconceptions pigeonhole roles of instructional designers, resulting in instructional designers only doing certain tasks. These tasks should be part of an instructional designer's toolbox, but their role and value should be much larger. These misconceptions include:Writing storyboards/scripts for elearningProducing videoDeveloping elearing using rapid development tools like Articulate or CaptivateCreating PowerPoint presentationsWith that out of the way, I'd like to guess that the best LMS from an instructional designer's point of view does not yet exist. Although we're getting closer, especially with strides made with Experience API, most Learning Management Systems I've used still uses an outdated paradigm of organizational learning (i.e. SCORM/AICC/Learning Object/Content-focused learning). Learning should be about people and not technology or content.A good Learning Management System from an instructional designer's perspective should possess a few elements:Tracking of Learner Behavior - If the goal is to improve behavior or performance, it's critical to know how our learning experience is affecting our learners both inside and outside of a learning event.Providing Feedback - Providing and receiving feedback is key to a learner's development. This is actually the spark that creates the "Ah-Ha" moments that makes learning effective. I'm not talking about canned feedback. Learners need real feedback from real peers and experts in order to reinforce productive behaviors or correct mistakes.Applying Learning - Learning takes practice. Lots of it. We need ways to make mistakes and learn from those mistakes. We need ways to apply what we learned in real world context with real world consequences and benefits.While most Learning Management Systems don't address all if any of those three points, I've seen smaller LMS companies attempt to get there. Hopefully one day an organization can apply Experience API the right way  to create a paradigm shift in learning management so that the general expectation of a Learning Management System is no longer: upload content, track completion, and report completion.