The board has been using Google+ Hangouts for meetings and it has been a good experience overall. Google also offers a thing called Hangouts On Air, which are basically Hangouts anyone can tune in to via YouTube. Up to 9 folks at a time can hang out, all others get to watch.
We are going to try to use this feature to host our first OpenStreetMap US Virtual Mappy Hour, next Monday, November 12, at 5:30PM Pacific, 8:30PM Eastern.
See the OpenStreetMap US Chapter Google+ page for details and come hang out (and likely iron out some kinks as we figure this out) next Monday.