Hi, Greg,
I'd be interesting in knowing the subject of this course because I think some are better suited to practical applications like you suggested than others.
I've just finished my first year at the University of Washington's distance program and I've been pleased with the balance of theory and practical application in my coursework so far.
Two examples that come to mind are "Information Behavior" and "Research Methods." In both course, we went "out in the field" and performed surveys and interviews, analyzed the data (or wrote research proposals), and wrote reports on what we found through our research.
This is not the case in all my courses and whenever possible, I try to augment my coursework with volunteer activities (real-time digital reference for example) or with internships (surveying patrons, performing interviews, and setting up focus groups for an academic library regarding current services). The Information School is big on internships (though they call it "directed fieldwork") and since I don't have any "work experience" in any libraries as of yet, I'm glad they do!

My advice to anyone who doesn't feel like they're getting enough "practice" (and if s/he has the time) is to volunteer and/or see about setting up an internship...
How is the rest of your program?