Cyberspace a Separate Place?

Sierran writes: "According to the U.S. Eleventh Circuit Court of appeals (and reported by The New York Times) cyberspace (and a person's or corporation's activities therein) exist in 'a place' distinct from their physical location. This has some interesting legal ramifications; does this mean we'll see Internet 'virtual estate' zoning as in Stephenson's Snow Crash?" Most courts have held the opposite - that internet activities are firmly rooted in the real world, located wherever the computers and people are.