I prefer Live games to playing on-line, simply because I can get some information about players and get reads on them easier, At our Local game where the majority of players come every week, you get to know how they play, likewise they get to know your own style of playing, and I find it easier to pull off a good
bluff every now and again, because most know I am a cautious, tight player, and will rarely raise unless I have them beat, at least that is what I want them to believe.
Also there is a lot more social interaction and you can have a conversation with friends and acquaintances during the game, On-line however is a lot harder to read players and even something as simple as starting a conversation is harder, if like me you are a two finger typist and keeping up with the chat is hard work when playing a hand.
There is certainly more money at stake when playing live, and although I only play for the enjoyment the game gives me, it is certainly nice when you win, and many times I have walked away from a live game with £100 or more at the end of the night. once at a Tournament I busted out with a full house against 4 of a kind early on, I then started to play a cash game while I waited for my Friend who made 4th place and I actually made more money than he did for 4th place, That's Poker.
When the fun Stops, STOP!