The authors investigated the perceptions of instructional delivery formats held by graduate students enrolled in a public school principal-preparation program. Two main research questions guided the study: How do students perceive the relative value of online courses as compared to traditional courses? and How do students perceive the relative accessibility of principal- preparation programs when comparing traditional programs with web-based programs? A short survey was administered to a total of 60 students enrolled in four sections of the same graduate-level principal-preparation course at a mid-Atlantic research-extensive university. The survey instrument addressed three student perception domains: anxiety about technology use, perceptions about the course, and perceptions about the instructor's technological knowledge. Additionally, the instrument asked respondents to compare web-based instruction with traditional instruction. (Contains 4 tables and 1 footnote.)