From a post at elearningpost about companies moving classroom content online:

Learning is fundamentally a social activity. I don't know how long it's going to take for stakeholders to understand this simple truth. E-learning is not about providing multimedia instruction just-in-time; its about providing the raw materials for learners to think purposefully about a problem and to negotiate its meaning in a group setting. This purposeful understanding is more than just the sum of what is given and what is discussed, it is the attainment of dependable self-reliance -- the ability to make responsible decisions.

There is a certain amount of research and evaluation that says that people learn at least as well and possibly better with good (one assumes) online learning as in face-to-face. There's also key evidence that the processing of information into knowledge and skill is primarily done through interactions, particularly focused conversations with faculty and peers and experts in the field. University campuses are successful in part because they provide a place where focused conversations are easy. As we move more 'content' online we will also want to continue to provide and even create new ways for people to process that material through conversations, serendipitous interactions and social synergies.