I haven't tried it yet, but from their "about" page, they seem to strive for the internet equivalent of how experts recommend you learn a foreign language--find a close friend, date someone, or live with a family that speaks the language. Maybe this could be the next best thing.

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The idea is to just do it! Join FriendsAbroad.com and meet and communicate with new people from all over the world, and by just doing it, you will then improve your language skills.

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So for example, if you speak English and want to learn Spanish, you can find Spanish speakers who want to improve their English – you help them with their English and in return they will help you with your Spanish.