I can tell you one thing that occurs, which might be regardless
of which VM/CMS LISTSERV you are running: you loose explicit
NAD support and must revert to generic e.g., POSTMASTER, MAINT,
etc. from the system which you are trying to administer.
 
Thus, though my PMW1@PSUVM userid was a NAD of _another_ Bitnet
BEFORE :NEWNODE processing, it is no longer AFTER.
 
Also, list definition keywords also seem to undergo implicit
Bitnet/Internet conversion (though a REVIEW shows the Bitnet
form) e.g., "* ERRORS-TO: userid@bitnode" seems to be converted
to [log in to unmask]
 
In my environment, this is a "gotcha" because depending upon a
"host" of factors, NJE delivery (no mailer) does NOT go through
MVS SAF processing, whereas SMTP delivery RFC821 VRFY protocol
does.  This caused "bounces" to the ERRORS-TO: address which ALSO
bounced (sort of -- don't know where).
 
/Pete Weiss at Penn State