One of the most interesting commentators on elearning is Stephen Downes. Recently, he wrote an article in eLearn Magazine in which he suggests that the "read-write" internet will completely transform education. He titles the article E-learning 2.0. This is article to read to get a feel for where elearning might be headed.
Another interesting article by Downes is in Educause Review (sept/oct 2004) titled Educational Blogging. In this article he describes some of the ways that teachers and students have been using blogs. Much of this is still happening in elementary and high schools and not in higher education.
Here is one nice quote from this article, "The process of reading online, engaging a community, and reflecting it online is a process of bringing life to learning."