Virtual Learning Environments and e-learning are gaining popularity in our universities. In Leuven, they are using Toledo, which is some kind of personalized version of the Blackboard Academic Suite.
Earlier this month, I went to Jimma University to teach a course on Forest Mapping, Inventory and Classification where I was able to enjoy the versatility of an earlier version of blackboard:

Blackboard – the original version (hi-res on Flickr)
It also works during power cuts.
Yes, but the newer versions are better at not leaving chalk dust all over your clothes and other possessions (offspring of two teachers speaks from experience).
We use a variety of virtual learning environments in medical and dental school education, but some of the original, centuries-old methods can’t be replaced. Cadaver dissection for gross anatomy is one example. It can certainly be enhanced, improved, and supported by the addition of web-based education methods, but not replaced.
I often use the original version of Blackboard (per Raf), which, in addition to working during power cuts, is not ruined by various …errrrr…. substances that are prevalent in gross anatomy labs. Also, if I draw a diagram of a cranial nerve, or of artery branches, on the blackboard when discussing pathways and structures with the students, they will copy it down in their dissection guide, and it’s more of an active learning experience.