For the second summer in a row, I'm teaching a course on severe and hazardous weather that is being offered only online. I find online courses to be a mixed blessing for both me and the students in the course.
For me, the fact that I don't have to maintain a presence on campus every day is a nice change of pace. I spend much of the day online, waiting for students to ask questions, grading assignments as they are submitted, and moderating chat rooms where students can interact with me and each other. Even though I never see any of these students face-to-face, I actually feel that I get to know them better than most students in my larger in-class courses. That's the part I like.
What I don't like, however, is, in fact, the lack of face-to-face contact. I pride myself on my ability to get difficult concepts across to students through use of the board (blackboard or whiteboard). That aspect of teaching doesn't exist in an online course. I rely on the students to keep up with, and learn and understand the material presented to them online, but I know that for some, it just doesn't happen.
Online courses are moneymakers for the university, as there are little or no overhead costs involved (no classroom lights to keep on, no air conditioned rooms to keep cool, etc.). But they are not for everyone, and students often don't realize that until they are in over their heads.