As one of the distance guys in this class, I would say that the distance option is incredibly useful if you already have a decent understanding of how an airline operation works and if you aren't in a position to take 5 or 6 weeks off from work. It definitely takes some serious dedication to make it through all the online modules on your own. The instructor is very available via email, but you do need to be able to work things out for yourself to a certain extent. If you take the online option, you will probably find that you are slightly behind the class in some areas and slightly ahead in others. In practice, this basically means that you just need to study your weaker areas (in my case, weather charts) while the 5-weekers work on the things you're already comfortable with (in my case, performance limits).
So, basically, there are pluses and minuses to either approach, but neither is necessarily better. If you're driven and don't mind a little independent thought (which you'll need anyway), there's no reason you can't succeed in the online/in-class course. Which is to say, I passed my practical today. I can definitely see that the 5-week class had a well-developed sense of camaraderie, so if that makes learning go more smoothly for you, definitely take the in-class route. Good luck!