My uncle did online dating and nowI have 2 new cousins and my uncle is very happy. So ha, take that OP and your stereotypes.
Read Chrono's post - the difference between online dating and a long distance relationship is just that. Online dating refers to when you have no intention of meeting the person face to face or are just too much of a lazy prick to do it. Whereas a long distance relationship is where you both are willing to go the distance (dohoho) to see each other.
I've been an online dater, it's a stuffty feeling. I've had a few local girlfriends and frankly 90% of women are cheap whores. Think of the long distance like a trial to ensure that the two of you are actually going to put the effort in to make things work, that you both care at least to some extent.
However the better way is to plan to see each other without being in a relationship beforehand. Saves you all the humiliation and heartache and removes the obligation not to forget everything that moves. Plus when you do get together there'll be less feelings-talk and more random loving at first. Then comes the feelings-talk and then comes them leaving so you go back to doing what you were doing before.
Having someone who's coming to see you/you're going to see is a lot like a part time job, really. You have a girlfriend in a way but the "pay" isn't as good and you don't have to deal with her stuff every day.