I found this interesting. Udacity and Georgia Tech will be offering a masters degree entirely through MOOC (Massively online open classes) classes. There will be a free version where you take the courses and don't get a masters. And another for somewhat under $7,000 where you do get a masters.
in terms of student community, faculty interaction, and project and thesis offerings
This FAQ jumped out at me. I did my masters online. But in small classes of 12 where we had plenty of interaction. It'll be interesting to see how the MOOC version pans out. And whether they offer any interesting "electives." It would also imply that the courses are across the board "better" at udacity. I've found some of them to be hit or miss.