Battlegrounds is a virtual tabletop for playing pen-and-paper RPGs online. It’s set for release by July of 2006, and it looks pretty robust. (It also just looks pretty, too.)

At $29.95 for the GM Client and $14.95 for each Player Client (which I think is how it works), it isn’t cheap — but if you’re interested in visually appealing internet gaming, it’s definitely worth a look.