Back when I lived in Michigan, one of my players moved away during a campaign. We all missed him, and we discussed the possibility of using a webcam to allow him to continue playing with us.
This setup never materialized, but it certainly sounded workable. We’d have set up a webcam with a view of the whole table, as well as a central microphone (so he could hear us) and speakers (so we could hear him).
On the whole, this arrangement sounds like it would come as close as possible to the experience of all sitting around the same table, without breaking the bank. (A pro videoconferencing setup would obviously be better, but who has that kind of money?)
How well do you think this would work? If you’ve ever tried it, how well did it work?