TomL --
You are taking the help text way too literally. Frankly, I believe
Microsoft erred in part in making the statement in the first place. If you
need to set cross-project dependencies, for example, using a master project
is the ONLY way to set these dependencies. So, from practical experience,
there is still at least some need for using master projects.
What Microsoft is describing is the built-in functionality of the Project
Center page for reporting across a portfolio or program of projects.
However, before this can really be effective, an organization would need to
create one or more custom enterprise Project field to which grouping could
be applied in the Project Center page.
I have already described to you the issue of duplicate task assignments that
arise from publishing a master project in Project Server 2002. Hope this
helps.