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First, I believe on-line courses to educate on technical material should include videos, graphics, hyperlinks for details, and most important, tests with instant feedback. That will be a big step forward over lectures and textbooks.
Second, I believe the residential and classroom experience gives students important cultural, social and behavior characteristics that are the basis of graduates success. Specific key behaviors I see learned are; 1. Laws of physics ALWAYS apply and are not subject to variation based on some "expert" opinion. 2. Anything that is not quantifiable is "bullshit" and to be loked on with suspicion. 3. If you understand the science involved in any issue, you have GREAT confidence in your opinions. Many, often most, people involved in decisions do not understand the basics. 4. Strive to contribute to human culture as success leaves a "mark on the universe" as Jobs' said.
Third, I believe the characteristics learned in my second point is what makes MIT grads unique and successful. Anything going forward should retain those features of the residential experience.