Ning is offering more customization option that like never before. It is now offering a new social application named Ning app. Though it is now in beta version, it may become standard in coming years.
You can enjoy the liberty of making a notable shift in your marketing policy in NIng by utilizing the power of ning apps.

I've been contemplating using ning to setup a community. I'd love to hear the experience of others on how much customization is required and how effective it was for them.

Well, I am looking for the same thing. However building a community is the most difficult task part of it that we have to accomplished at any cost.