Yes I've done online dating in the past. Relationships lasted as long as 7 years. It's not how you meet but whom you meet that counts!
Much like the days gone by when people were afraid to use credit cards to make purchases online so will the fear and stigma fade for online dating. It's been reported that 1 in 5 couples getting married today met online and I imagine that number will increase dramatically over the next 10-15 years.
Naturally online dating does have it's risks as it does in meeting strangers conventionally. One has to be aware, use good commonsense, and not rush into things.
Trust like respect should be earned overtime. Awhile back I wrote a hub offering some tips.