vern & assclown: it's try to keep it somewhat civil.. discussion/disagreement is fine - just do it politely without the name calling..
vern: The LAN-like play is being done with Steam/etc.. it's still not fully the same as LAN play even with their implementations because of what I posted regarding public/private IP addressing I mentioned before. The only IP that the b.net servers receive and send out for setting up games is the public IP, multiple computers behind that firewall sharing that IP all report to the b.net servers with the same IP.
Now, that's now as big an issue now as it once was since you will still setup the game with the same IP (assuming you have a fairly modern router/firewall device. The traffic flow goes from one computer, through the switch, to the external interface on the router, and then back in to the other computer you have at your local network. Not quite local, but the lag and the latency would be fairly minimal. For most people, since they use the firewall/router as their switch also, it's not a big deal even though the integrated switches in those devices aren't often the best quality. At larger LAN parties or at schools where there can be multiple router hops before things go out. This can cause some issues since the traffic goes through two or more hops over shared pipes and back down. A true LAN party generally uses dedicated switches and doesn't have to go through any NAT traversal.
I've actually heard and read both sides of this where b.net 2.0 will work more closer to this peer-to-peer/LAN-like play.. but b.net 1.0 was not built this way and I'm not really aware of any current b.net games that work in this way. Since b.net 2.0 isn't really fully out yet, none of this info, as far as I can tell, has really been confirmed by Blizzard at this point although I would suspect that is how things will play out. I've decided to hold off on any judgement until they release more details when 2.0 really rolls out with SC2. Until then, everything is really hear say. I'll hold some faith in Blizzard to make things fairly workable.
It still doesn't address the fundamental issue that LAN play isn't supported. The fact that you require internet access to setup a multiplayer game at all is still a FAIL in my opinion. As fairly widespread as internet access is in many countries, there are still many countries where Blizzard markets their games and even many areas of the United States for that matter where internet access is not always consistent or even readily available.
There have been many times in the past where I've gone on trips for work and for fun where a bunch of us will have our laptops with games like Diablo, WarCraft 2, StarCraft/etc.. and in the off hours at night would hook up a little switch and play some games. Many of those places did not have free internet access and some places, like the times we've rented cabins in the woods, that did not have internet access at all. With the removal of pure LAN play, for us, playing SC2 is not an option at all at those times. These are the the times I have issues with the removal of LAN play. Mutliplayer for those situations is still a FAIL.