I freelanced full-time for a year and it's a very difficult way to support oneself. For every hour you bill, unless you have a very good thing going, you'll also spend an hour following leads and an hour dealing with organizational crap. It's really the worst of both worlds and I'm trying to kill off the business that formed over that year as best I can, without pissing off existing clients.

To get enough jobs to support yourself, you end up undercharging. And the business can't scale because most people you'd consider subcontracting to either charge astronomical rates or are god-awful: There's a surprising dearth of people who know their stuff.