Virtual world's (using in massively multiplayer online games, MMOG) have the potential to be an amazingly effective and efficient method for conducting/organizing both education and business. Using a just-in-time information system coupled with the immediate and repeated application of that information in simulated environments, learning takes place at a very rapid pace. Easily accessible collaboration between participants adds to the learning process and enables the accomplishment of very complex tasks. The accumulated knowledge gained by participants is absolutely staggering given the degree of automation involved.
Here's a demo (video, MP4) I made , using "The World of Warcraft" (an extremely popular MMOG) which may help to bridge the generational and experiential gap necessary to understand the potential of virtual worlds in education and business (my son is a top player). The video is very small, which makes it easy to download/stream (and inexpensive for me), but it is big enough so that you will get a feel for experience (hopefully). Also, my ad hoc presentation style isn't being powered by much coffee yet (it gets MUCH better with additional cups).
Let me know if this is useful or if there are any problems.