I'm a long-time forum lurker and occasional poster. I've kind been in the "I want to play tabletop games" mindset forever and have probably built so many first-level D&D3E/3.5E/4E characters (not to mention a ton of campaign ideas), but it wasn't until a fairly recently where I actually found a group (for 4E).
I now play in a Saturday D&D 4E group using an "adventure-of-the-week, heck, even character-of-the-week if you want" campaign style, ran by two long-time DMs (they trade off as time/etc allows), and seeing experienced DMs at work made me realize that a lot of the things that kept me from actually starting a campaign were things I could more or less not worry about. So I'm now running a fairly modular campaign (meaning individual prep work week-to-week isn't overkill and I don't have to focus on things like an overarcing plot until the opportunity to do so arises...) as a newbie DM on Sundays. We've only run one session so far (and it was short by design) with a single combat encounter, but my players seemed to have a good time (and DMing ends up being almost as fun as playing)
Our game's online, as most of my players I know from my guild in WoW (4/5 of my players are in Eastern Canada, I'm in WA, US). I was concerned that it'd be harder to keep everybody's attention in an online game (past experiences had led me to believe this), but it ended up being a non-issue.
We're using DeviantNull's 4e framework (I told my players that how they ran their characters is their own business but I'm using the framework, after the first session our lone holdout decided to use it as well), but I haven't actually introduced some of the more fancy Maptools features to them yet. I'm hoping to wow them with the custom map I made (the first encounter was on a 'borrowed' map) with lighting and VBL this Sunday.
For the interested folk, I have an Obsidian Portal page that somewhat describes the campaign format (it's very 'borrow-able'): http://www.obsidianportal.com/campaign/thaco/