Video conferencing is a huge improvement over conference calls. There is something humanizing about seeing the people you're talking to. It's easier to see and hear who is talking, too. (Conference calls have terrible fidelity and user interface.)
Right. Our product (to toot my own horn) has 4X voice quality over phone. Everybody can see all the videos (up to 20 people). It also keeps you connected by aggressively rerouting traffic as bandwidth grows and adapts to changing network connectivity (wireless roaming, plugging/unplugging, on/off VPNs etc) transparently. All to take the meeting tool out of the way and let the meeting happen.