The "flipped classroom" seems quite successful and growing in popularity in high school. Students get their lectures at home from youtube or kahnacademy, write clarifying questions about the material and then bring it to class. This allows the instructor to focus on practice and application. Does anybody have any information about its success or failure when implemented at university?
Oxford and Cambridge University courses in England have always operated a bit like this. In my Oxford Maths course, I'd attend 1 or 2 1-hour long lectures on the subject, have worksheets to do, then have classes in college of about 5 students to 1 instructor where we would discuss and work through the material.
What you're suggesting is basically the same, but having recorded lectures. Given that most of the lectures were non-interactive, it amounts to much the same thing. In general, I found it a very successful approach.