Most magazines, tv channels, radio stations etc have a web presence now and more and more surfers are accessing these companies on the internet...so the internet is beginning to take over.
The internet is also accessed on wap phones.
I agree with your bullets on succesful ecommerce, but would add
Products at the right price....as there are many sites that give comparative pricing kelkoo etc...so you need to monitor your competition too.
Business on the net is no different to conventional business, you still have to estblish and operate proper business processes and procedures . Not running an internet business as a 'real business' was the initial misconception by the "get rich quick" brigade and the reason many failed.