Live play has much more variance, partly due to the nature of the situation partly due to emotional swings. People in Vegas want to gambool it up. The structure of many of the cardrooms isn't very good . A lot of 50x blind buyins.
I have seen numerous hands at NL 1-2 and 2-4 where people just refuse to fold. When you have a lawyer drinking scotch, hammered showing off for his girl, calling your all in with 2nd pair only to catch on the river, it is harder to swallow than at Pokerstars random table number five trillion eighty four. You can't physically see the guy that caught runner runner on Pokerstars, but you might want to strangle the lawyer at the casino game.
This is emotional variance, and it is a very big beast if you let it be. When you are trying to make a living playing live, you are only getting 35 hands an hour to work with. Add this to tipping the dealer, listening to Uncle Eddie talk about the buffet in the Tropicana, and all the chaos around the casino, it can become very difficult not to lose your mind (and your bankroll). Not to mention the other games in the casino, why not a couple of hands of BJ to soften this loss today.
And for my final few points.
1. People smell very bad in person, I have sat next to numerous people who tilt me just on smell alone.
2. People are ugly, I don't like looking at them. Yes it is very easy to read people in live play, but having 1000's of hands is a database is good enough for me. Plus the characters at Full Tilt and other sites are more attractive than Aunt Edna.
As for going for it hell yeah give it a shot, but do it with 10K at least. and some breathmints, and very very dark sunglasses. There aren't enough sunglasses at live tables.
On to sunglass story number 1.
I once watched a guy with a binions ring on finger, numerous other swapmeet jewerly strewn about the rest of his body, attempt to analyze a woman's hand. The board was something ridiculous like 3 kings a 10 and a J raindbowlicous.
He spent five minutes explaining the intricacies of what he was thinking. Finally he pulls down his sunglasses only to reveal ... ...... .. A SECOND PAIR OF SUNGLASSES! Shouting out "grandma I figured you out this time I call".
Grandma then flips over AK for quad kings. What did this man have you ask, a straight. Not even a FULL HOUSE. The kicker: Grandma to the dealer "who won that one sonny I can't see the cards on the table".
Five minutes and SHE didn't even know her cards.
Ah yes live play is always wonderful, especially when you have sunglasses.