I've read two interesting blog posts that, although it wasn't their primary reason for posting, have interesting subtextual commentary on reality versus fantasy.
Read this post looking for the divides the author, but more specifically the commentators, make between reality and fantasy...
The first is here on Raggi's blog. Raggi is responding to a comment from another blog.
The second is here on Paladin's blog (Paladin gets bonus points for using my favorite word in the English language). Here he's citing articles from Dragon that speak to reality/fantasy.
Both posts highlight material/draw lines on what constitutes reality versus fantasy. For me, I do not believe in reality, so therefore I do not believe in fantasy. They are both social constructs and both part of the same experience. There is no segmentation. There is no difference. I suppose, for me, I like to see the ways reality and fantasy are negotiated in D&D subculture. This was brought home recently while teaching my spring course on the history and culture of RPGs (more on that in a future post).