The answer? In my opinion, yes, freelance work is worth the pitfalls. If you keep in mind the warnings that I've detailed here, the obstacles can be easy to surmount or wholly avoid, and you can find freelance work will award you a freedom that many 9-to-5 workers don't enjoy. No more going into the office sick; if you're feeling up to it, you can even work when ill, so that you don't get behind. No more missing kids' soccer practices and recitals; no more rush hour traffic; no more spending $300 per outfit just to keep up with the latest office fashions.
Freelance work isn't for everyone, I'll be honest; the lack of stability can be frightening, and can outweigh the resulting freedom. But if you've got the skills for it, the discipline, and the available resources, you might want to look into it. And if you're planning already, don't forget to keep this article in mind. You'll be grateful for it later.