I was not trying to discourage you, Chad. I love distance education and am doing a program at Whitefield now. However, at my age, it is for enrichment (McFadden's crazy love of school) rather than preparation for teaching. If you follow some of the comments that Dr. Clark has made on the PB and elsewhere over the years, you will catch a feel for the disdain that many/most traditionally educated folks have for distance/non-residential programs.
Can you find people with non-traditional doctorates who are allowed to teach? Sure. Ken Gentry, R.C. Sproul, Jr., James White, etc. And, if memory serves me, neither John Frame nor R.C. Sproul, Sr., ever completed their dissertations in their traditional PhD programs. However, it is a VERY steep hill to climb. If you elect to skip the traditional PhD track, be prepared for rolled eyes, extra scrutiny, and the fact that many may not even bother to interview you after reading your C.V.
Some even complain that regular seminary doctorates are not sufficient. I have even heard the opinion that PhDs from seminaries are not "equal to" or as worthy as those from universities. One Reformed scholar objects that he hates to read dissertations from PhD students at seminaries becuase they are seldom as scholarly as those from university PhDs. In other words, if you want to be hired by a guy who did his PhD at a prestige university, you may find your seminary issued or non-residential doctorate viewed with some suspicion. BTW, D.Min's are often looked upon as an ego-trip for pastors and not a "real" doctorate. My 450 pg. D.Min. dissertation with footnotes using/referencing 5 languages and a 35 pg. bibliography is a case in point. It would never get me in the door of an accredited seminary to teach.
I have an acquaintance who completed a South Africa distance learning PhD. He self-published a couple of scholarly books (two distance learning dissertations) and worked assiduously to get them placed in libraries around the country. Working all of the angles, he was at last check unable to get his foot in the door anywhere as a prof.
When you are talking about terminal degrees in theology and cognate disciplines, a major part of the experience is the "community of scholars" aspect. Even in the British model, students attend lectures and meet regularly with their mentors for supervision. I commend distance learning for those who a. cannot afford to attend a brick and mortar institution or for whom distance is a limitation; b. for those who are self-motivated to learn and do so by augmenting their distance efforts with face-to-face mentoring; and c. those like myself who do not need another degree but want to learn in a structured environment.
In my experience, distance learning is well worth the typically modest expenditure of money, will help you move through material in a structured way, and is a boon to lifelong learning. It is not, however, typically the best way to prepare for a teaching ministry.