If you've purchased the virtual ticket before and weren't happy with the product, fear not: The online offerings of the virtual ticket have been much improved over the years. In 2009, the DirecTV coverage was shoddy all around, leaving viewers in the dark about half of the panels of the convention. In 2010, the multichannel coverage of all of the panels, the ability to go back and rewatch panels later or fill in gaps you missed earlier in the weekend, as well as the interviews with Blizzard that you can't see anywhere else really made your $39.99 worth it. It wasn't unusual for BlizzCon attendees in Anaheim to watch the panels from the comfort of their hotel rooms via online stream, only venturing out for evening parties and meetups (such as our own!). If you can't physically attend BlizzCon 2011 (or even if you can), it's money well spent. Give it another chance.
For the full details of the virtual ticket, head over to Blizzard's official blog post on Battle.net.