Requirements:
Cloud-based / cloud-hosted CMS
Not Wordpress. That's not a cloud-based CMS, and even if it was, it's not what I'm looking for.
Pricing structure (or a partner program) that allows room for markup on the monthly hosting cost.
Nice selection of themes / templates that can be customized to fit each client's branding
Strong SEO capabilities, especially for local SEO. Blog capability a must.
Admin tools that make it possible to bang out a large number of 5-page brochure / lead-gen sites in a short amount of time.
Content editor that is straightforward enough to be used by clients whenever they want to post a blog entry or something like that
I guess I'm looking for something like Wix or Squarespace, except that I've tried both of those and don't particularly care for the UI.