Key Strengths

Free, versatile, intuitive.
The whiteboarding tool is very effective and it is probably among the very best that can be found today among any kind of Web conferencing tool.
The interface is extremely simple and easy to use. Controls are easy to identify and they all use large and easily recognizable icons.
Text chat is well designed, reliable and effective.
The audio facility offers many alternative codecs (encoding modules which compress audio in different ways and in differing amounts) and other options to optimize audio quality.
Video works more than decently as long as you have at least 64 Kbps of bandwidth and a working webcam.
File transfer is a good feature that is also well implemented.
Security is available as all meetings can be password protected.
Broad support of international standards (T-120, H-323, etc.) allows NetMeeting to easily interconnect with many other mainstream videoconferencing systems and units.
Being a tool that has not been significantly updated in almost three years, while it is still being made available by Microsoft to all Windows users, NetMeeting must have indeed very few weak points to account for.