To answer this question, you really need to break it down into sub-questions. The sub-questions which come into my mind are
Is this a realistic experiment?
Can it be applied to real world settings?
Are his methods valid and ethical?
If you wish, you can go back to the video from the lesson showing the modern reconstruction of Milgram’s study. The links for this are here and here. Watch both parts.
There are many sources about Milgram’s study on the web. A good place to start is with Thomas Blass. He wrote a biography of Milgram and keeps a website about his work. You can listen to Thomas Blass speak here on an old edition of All In The Mind and read an article to celebrate the fiftieth anniversary of the experiment here.
Another good place is a lecture about Milgram’s study from the Psychology Faculty at the University of Leeds. Follow this link or go straight to the website here.
Milgram’s study has recently come under scrutiny from Gina Perry. You can listen to an interview with Gina Perry on All In The Mind from last December here: wind 18 minutes into the programme. If that doesn’t work, you can try accessing it from this link. There’s an article which makes some of the same points here. Gina Perry made a documentary for Australian Radio which you can download from here. You have to be patient but it will tell you some very surprising things about Milgram’s study which have only recently come to light.
On the specific question of application to real world settings, make sure you have looked at the text book extract on page 10 of your skeleton notes. You can find some good evaluation on pages 158 and 159 of the AS Complete Companion text book.
Follow these suggestions or do some searching for yourself. What do you think?