Seems to me that online dating makes a lot of sense given how we connect to people in our daily lives. Traditional dating certainly isn't passe and bar hookups and meet-and-greets aren't going anywhere. To me, it sounds like people who prefer privacy or have their share of discomfort about meeting up or seem a little less outgoing prefer online matching. You can screen without pressure, feel out details, chat in different ways before agreeing to a meeting.
I date rather casually, and I have to be honest; it's easy to meet people here in Tucson, but it's hard to really connect. I think people here are outgoing to a degree. On my university budget, I'm rather stuck to a limited pool of social opportunities, many of which revolve around the bar scene. A friend of mine suggested something like volunteer work or church attendance to meet and greet new people, and I'm pursuing those avenues too now that I'm trying to get a schedule going for this semester. Until then, you know, I can browse personals or hunt down special interest forums to see who's out there and who's in my area.
Okay, so I'm fraternizing with big dicks here and role-playing gamers on another site -- ha ha. I'll get around, I promise.
But yeah, just maintain the same level of common sense online as you would in person and take whatever precautions make sense at the time. I think people can as easily lie to your face in person, too; you just have the benefit of looking at them while they do it.