I've been involved in both of these, and I have to agree with you. Exclusively online relationships (well, beyond friendship) don't work out very well...
However, I'm currently in an online relationship that will be 'real time spent together' very soon. We met through a mutual friend, and ended up talking and becoming close. When I went to visit said friend at Acen, he had me stay with him for the entire time I was in town, and we were entirely happy.
The exclusively online relationships I've had ended badly, and yes, my current boyfriend and I have our arguments and disagreements. But I'm glad that we met the way we did, and I'm pretty crazy about him, as he is over me.