... considering this option for an advanced degree. Is anyone currently invovled in taking courses online? If so, what are the overall advantages (besides the obvious)? And is it just as good or better than sitting in an actual class setting?

i didnt like it
i took philosophy back in high school
not the best choice for online education i know but i needed an extra credit
i ended up dropping it...
it depends on what kind of degree you're taking
some classes are just better with human interaction...