Synthetic nicotine would be "real" too, in that it would give you the same buzz, but it would be hideously expensive!
It does make me think, though, that there may be some mileage in the idea that the tobacco companies might not unequivocally oppose the advent of ecigs. It could offer a litigation-free market for their leaf (any problems will come home to roost with the manufacturers) - of course, it will probably only work if they can match the per-unit-nicotine price of tobacco grown in other countries - there's not much room for premium flavour leaf in the new market if it's going to be distilled for the chemical content.
Interesting thought anyway.
And just imagine if BT start to use a high nicotine producer tobacco or something like Nicotiana Rustica, no need for cure and process the tobacco, just plain extraction of a BIG FAT load of nicotine!
I don't know if produce pure nicotine is more expensive than produce cigarettes, but I know that BT could produce a very BIG amount of nicotine from their plantations.