A colleague pointed out a feature that I need to explore more: "lesson," which allows for a step by step process that a student can do on her own. We have been tossing about ideas about creating lessons that could fit in a general way into the curriculum of a course to use during teacher absences. The thought is that we could create these lessons and have them available for any teacher of a particular course.
Another thing that seems to have just popped up for us is "rubric." Create a rubric for an assignment, and click, click, click, the assignment has been evaluated. Definitely worth a look. When I have used rubrics I have delivered them by e-mail or on a wiki, but this seems to be a most hassle-free way to get the information to the student.