I have not had too much experience with podcasting, but think that it definitely has measurable benefits, like being a 21st radio powered by individuals and a convenient tool for the modern multitasker. I thought Professor Levinson described the process of podcasting very well- how to record, distribute and access the recordings- but do recommend the rest of the class go to his blog and actually listen to his work. Here's the link to his podcast about Truth on Earth, the band trying to counter cyberbulling:
I am most personally interested in how podcasting can potentially change the education system. I can't locate the article I read a few years back on the subject, but remember reading that large universities were experimenting with having 200-300 student lecture classes listen to podcasts of lessons remotely from their dorms instead of attending the class physically, in order to determine if "podcasting professors" could be the future of college education. I'm pretty sure this model would only work at large universities with large lecture classes, since students cannot readily participate in that class format anyway, the main element that would be sacrificed if college professors taught classes strictly through podcasts. Here is a similar article from 2006 about how Boston area colleges were pushing professors to go digital and record their lectures as downloadable files so that students could listen to wherever, whenever:
Overall, I think that podcasts are a great supplement to college classes, but hope they do not fully replace the physical classroom experience, an age-old academic tradition.