Gotta agree with the minority here... there's nothing wrong with online dating. The only suggestion I'll offer up is not to limit yourself to ONLY online dating. You can--as I did--easily get wrapped up in it and wind up spending HOURS EVERY DAY simply reading/writing/IMing. (Much like some do on this board

).
To the women out there... don't be shy. Check out some ads and give it a shot. Just, don't rush into anything. If he pushes to meet really fast, move on. Doing this doesn't mean you're desperate... just intent on finding a good guy... or you're a busy person. One final tidbit is that I have yet to see an ad work for a woman. Meaning: women shouldn't bother posting ads, in my opinion. It only works the other way, I think. Just my own experience here.
For me, I met a couple of oddballs, but mostly decent people. I only used AOL's personals, though. I'd guess I've been out with about 30+ people from online personals. The rule is just like in real life... use common sense. If it sounds like a line, it probably is. I'm currently dating someone in medical school and have known her since '98. They're out there, you just have to keep looking. Again, same as the real world.