Can Member Meetings be effective Online?

I just closed down and collected the feedback from the Members meeting held recently in Chicago. One particularly well thought out comment noted several reasons why they beleive travel to the USA is not ideal, and then noted:

[meetings] could be held on-line just as effectively as "being there"

I strongly disagree. One of the key responsibilities I have to the ecosystem is as a mediator -- to make connections between people and organizations that otherwise would never happen. To try to get people to see different sides to problems and opportunities that they wouldn't otherwise see. I just can't imagine how to do that over an online forum, even in some of the more marketing-honey interactive-type worlds like second life. I understand the comments from an "information push" perspective, but I beleive more value comes from the networks that get established.

What are your thoughts? As with my position on Apple, I'm willing to admit I'm missing something.

- Don