I think sometimes the multimedia is overrated also. It's more glitz than content. An effective simulation or animation can help a lot, as can a nice picture or diagram. But when I hear multimedia in the context of learning, it usually is a sign for me to avoid the materials.
Similarly, I tend to think that interactive fiction and interactive media is overrated. If it's simply a link to more info, great. If it's a complex web of alternate text or video, I think it's just not worth the enormous additional effort. My thinking is that text is here to stay. I think there's even a place for novels in this multimedia and tv and web snippits world. It's probably one of those things that will swing back and forth from books being popular for a generation to not interesting and back again. But I can't see them going away. Movies, for example, just aren't an equivalent substitute. Just like teaching videos are not a complete substitute for textbooks.
BTW, I like your tag line, Steve!... "Sfi-Fi. E-books. A match made in the 21st century."
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