I'm no theory11 staffer or expert, but I attended last year and loved EMC. The Essential Magic Conference is an online magic event where Luis de Matos, Marco Tempest and David Britland find a number (in this case 33) of the worlds leading magicians and manipulators (and maybe a psychologist or two) and bring them to Studio 33 in Portugal. From there, the 33 experts give lectures and performances just like any other magic conference, except for the fact that these lectures and performances are broadcast over the internet. Conference attendees can participate in a Q&A session, live chats and other online activities during the conference. Once the event is over, the sessions are posted online so that people can go back and review what they've learned. Then, the sessions are burned to DVD's and sent to everyone who participated.
Last year, the first session was worth the price of the ticket. I highly recommend it! Does this help? Basically it's magiccon in your living room.