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A billing application with mass appeal is guaranteed to have a lot of features people don't need. That is the nature of billing. Every company will have different requirements. That is why a LOT of companies make their own.
I re-installed Blesta with the latest version and had everything working with the Universal Model in 10 minutes. A bug in that module with the older version was the problem I think.
But at the end of the day, I think a hosted solution is best for me -- at least for now. I'll revisit that decision in a year Thanks everyone for your input.
ClientExec v5 looks promising when it's released.
http://forum.clientexec.com/index.php?threads/clientexec-5-0-preview-roundup.2778/