In the context of the LISA Mission Formulation Study, the LISA System was studied in detail and a new baseline architecture for the whole mission was established. This new baseline is the result of trade-offs on both, mission and system level. The paper gives an overview of the different mission scenarios and configurations that were studied in connection with their corresponding advantages and disadvantages as well as performance estimates. Differences in the required technologies and their influence on the overall performance budgets are highlighted for all configurations. For the selected baseline concept, a more detailed description of the configuration is given and open issues in the technologies involved are discussed.