Yeah I've been looking at online degrees a lot lately and the best bet seems to be state colleges. Oregon State University and Fort Hays State University offer some very good online degrees that are the same you would receive on campus. Not to mention, the tuition is unbeatable. Fort Hays, for instance, is around a $150/credit hour and OSU is around $210. And that's for everybody, not just in state.
Somebody else said it, but ten years down the road, a lot of people won't think twice about online degrees, it'll be the same for them as going to a campus. As it is, that's becoming more and more so. All of the places I am considering transferring to allow you to participate in all the usual college societies, activities, rankings and the like. Basically it's real college without the campus requirement (unless you go there to participate in activities). One thing is for sure (and echoing everyone else), stay away from the diploma mills and for profit colleges like DeVry.