Forum Moderators: rogerd
If you have time and money, custom is the way to go in the long run (IMHO). You can grow and expand your site at your own pace... and you have the flexibility to do and add whatever you like, which helps give you a competitive advantage.
One intermediate approach would be to use available software and have your coder modify it to fit your unique needs. If the script you start with is secure and full-featured, that should save you time and money, and perhaps give you some features you hadn't considered.
I believe WebmasterWorld is a custom built forum with their own coded proprietary solution. Brett Tabke make a comment at Pubcon in Vegas last month about the benefits of having your own custom software, which he felt gave them an advantage.
I think most will agree that custom is the way to go, by either starting with an open source package that has "most" of what you want and modifying it from there. Or starting from scratch (for those who are ambitious, and need total control/customization).