Here comes the science: new study shows online dating has its ups and downs. In other words, it ain't perfect, but it ain't horrible either. Basically, just another way of meeting people, with about the same chance of success as any other way.
'Bout the only thing I can bring to the table is a hearty recommendation to meet sooner, really as soon as possible, rather than later. I've done it both ways and the "meet sooner" option paid off handsomely, while the "meet later" option was always a disaster.