We are looking for CMS softwares for very high traffic site (more than 100k hits per month). Which software is better?
I heard joomla is little slower. And i know it is bit complex.
Do you guys think wordpress can handle that much traffic? What features will I miss when compared to joomla?
Any other paid CMS softwares which is easier to manage, efficient?
TIA.

I would take a look over at Opensource CMS (http://www.opensourcecms.com/), I'm sure you will find something there.

There are some pretty dynamic pieces of software out there wordpress, drupal, Joomla and plenty more installable via CPanel so maybe something to look into. However, I find them all to be clunky mass produced garbage, to be perfectly honest speaking here. Most of the time I just want a client to be able to edit the pages that exist, and not be overloaded with blogs, news and what not. Maybe I'm venting a bit here and maybe these are removable from within the interfaces of these CMS' themselves but its time I don't have to spare editing the code to remove these widgets.
I have recently started working for a small firm and have come to find a very clean and accute piece of software that does exactly what I want it too, however I am not at liberty to share it unfortunately due to the fact its an in house development. But it allows the user to plugin the pages that exist in order for the user to edit them, and not be crammed full of useless widgets.
Maybe there is some money to be made for someone to build an easy editable CMS piece.
Dan

TRy PhpNuke if its with Linux or DotnetNuke if you are with Windows i had personally tested both in few sites some time back it will handle the traffic you are mentioning.

Whether they can handle that amount of traffic is directly down to the hosting provision, what cpu/disk/memory resources are available and how the hosting is optimised and configured. Any 'off the shelf' CMS has a load of bloat and unused features that generally means there are more queries being performed than necessary, but if you have sufficiently powerful hosting it doesn't matter. A bespoke application developed specifically for the site will run better as it'll do the minimum amount of work to generate pages, but the development cost is substantial.

Wordpress can handle a lot of traffic, but the same counts for Joomla, we have seen Joomla performing wonderful at sudden peaks as well. It all boils down to your hardware / software configuration you are using.
Wordpress is not really a full blown CMS however it starts to look like it more and more, but could be suitable depending on your needs. Joomla might be looking more complex, but it has tons of features, not all of them needed, and when configured correctly its blazing fast.

Go with something that can cache the pages. From there is up to the hardware.

I was playing with drupal, the editor is very basic while posting a new topic. It doesn't have any features (WHT editor is better). Do I have to enable somewhere.
If it is like that, it may not work for us because my client is looking for WYSWYG editor.

We use ExpressionEngine (http://www.expressionengine.com) on a site that receives well over 100k/month. As the Developer I hate working on it (apparently 2.0 becomes more developer-friendly).
It was also used on change.gov... that surely received plenty of hits! :)
But it has handled the stress of high traffic quite well!

WordPress is really GREAT. It may not be a comprehensive CMS but due to its user-friendlyness it is highly popular.