First of all, I´m not sure what do you mean by internet dating. If you´re looking for a partner a bit further away (ldr), then it shouldn´t be that difficult. I suppose that´s the only thing a man can really do.. a relationship without seeing is not a real relationship in my books.
It´s a complicated thing... I can tell this from experience.
In my case, her and I have been dating for 16 months now. Seen three times. We´ve had our cold times, but the trust we created on out first weeks together has helped us over them.
Sure I would rather live with her than write an email everyday, but she lives in another country and we both got our commitments. In this case I believe waiting pays off.
Try to have a feeling about it.. trust your instincts..

In the end, chemistry is what matters.