I've spent the bulk of the past 8 years telecommuting, even when I've had full time positions locally. It requires a strong commitment to communication and the experience to recognize when the communication is failing so you can get off your ass for a face to face meeting or phone call. I also ending up working a hell of a lot more hours than I would if I just had a desk job. But I wouldn't have it any other way.
I don't give a shit about your corporate culture or your ping pong table or your office politics or your ego battles, I only care about solving problems and producing solid solutions. Telecommuting lets focus on doing just that while leaving all the other nonsense behind.