Susan,
Yes, there are trade-offs and the "lightbulb" moments are less apparent in the asynchronous, text environment. The audiovisual interactive communication that allows the teacher and student to see and hear each other is becoming more prevalent in some of the newer LMS implementations. I'm sure you're right that many of the "hands-on" career tracks will continue to require the traditional classroom/lab for at least several more years.
Dr. S. David Vaillancourt