I've done my share of online dating. I originally balked at the idea because there was no way to ascertain physical chemistry with another person without actually meeting them in person.
But after doing it a few times, I've really come to appreciate it's efficiency. When you're having a 1st meeting with some one you met online, you've already cut through issues that can otherwise take months to figure out (i.e. life goals, religious background, kids, etc).
Just my two cents.