I recall from say 1995 till about say 2007 Microsoft's MSDN group did a ton of local live developer events, often they would rent a movie theater and run along side TechNet and enterprise / or small business and have a really good showing of folks.
while the online web casts are all good there is *NOTHING* like a live hands on event where you can shake hands get cards and chat with folks.
Build is ok but not everyone can afford to fly + hotel + event ticket every year.
have a kick off but then do a road show ... at least do an east / west / north / south show.
the last few years it seems like MS has cut out all of the local events for developers.
I used to go to several a year. One of the folks who did a lot of them in my area no longer works for MS and has been doing shows / events for other companies.
I think MS is losing by not going out and meeting more folks face to face.