The reason I ask the question is because the term has been kind of pulled apart, modified, diluted, put back together and that process seems to repeat itself so often it almost seems continuous. It's happened in this community as well as many others and although it may seem like simple semantics to some for others it could have a totally different effect.
The idea with this thread is that it will help any new person that has entered the big bad world of business and marketing online and stumbles across this thread.
For me the answer is that its pretty much the same as most definitions you will find online. That is to say that it is a form of marketing that uses the internet, email and similar digital forms to drive sales and business.
Internet marketing IMHO is not solely marketing information, tools or coaching programs to other similar people within the industry so that they can ensue the same and with the ultimate goal of driving direct sales.