PracticalWeb is still a new venture for me; so far I'm really enjoying working more independently.

I find the relationship between client and contractor lends itself better to developing complex systems than that of employee/employer.
I haven't entirely figured out why yet.

One potential downside is trying to do everything yourself, legal, accounting, invoicing, purchasing etc...

What I have found is that there are many helpful resources out there and by getting help where I can - I am better able to focus on my core work.