We're all used to watching TV online now, but how many of us would actually make the leap to watch a web-based serial on a major network? It was big news when NBC snapped up the MySpace series, Quarterlife, with big hopes of bringing its web success (and youthful demographic) into the traditional media arena. Could an old guard finally be getting hip to these youngin’s and their perpetual ramblings about the greatness that is TV on the web? It was a gamble. And, it was a bad one.

The series debuted on February 26, 2008 with the lowest ratings the network has seen in 17 years. Granted, just over 3 million viewers did tune in to watch the on-going trials and tribulations of a bunch of good-looking, 20-something artsy types (a frustrated journalist, a frustrated actress, a frustrated filmmaking duo and their two other equally frustrated friends), but while those numbers would equate to a bona fide hit online, it translates to a complete crap-out by TV standards.

Created by Marshall Herskovitz and Edward Zwick, the same team behind Thirtysomething and My So-Called Life, it seemed like a no-fail situation. Rife with strife, love triangles and inner-dialogues about the malaise of being a young adult trying to make sense of it all, it could have been a sort of dramatized "Friends 2.0" and provide NBC the jolt it needs to get back some of its shining Must See TV-era glory. But, it seems as though while middle-America can get very hung up on the contrived Ross and Rachel drama (can you be friends with an ex lover or love an ex friend?), they’re not quite ready for a series that revolves around a video blog and posits the question: If you say shit about your friends online and none of them find out, does it really matter?

Looks like it’s back to the drawing board for the Peacock.