I like distributed teams because they force you really figure out communication and your team processes. It's hard work, but the reward for getting it right is that you have access to talent all over the world.

That said, I think the experience varies based on your situation. I'd be careful signing up to be the first or only remote worker. You'll find you miss out on a lot of the conversations where decisions happen; people can forget to dial you in or bring you up to speed. Don't underestimate how much work you'll have to do to keep the communication flowing. Working remote is a lot easier on a team that has other remote workers.