I can take a break when I need to and be in my comfortable space. I don't have a commute. I can open my door and see my daughter when I go downstairs for a coffee. I can take a walk to the local coffee shop and sit down with the other freelancers and remote workers and catch up on local happenings. If I need a break or I'm done for the day I'm not just watching the clock and waiting for a few other people to leave first.
I contribute regularly to open source projects and so I know what it takes to collaborate remotely. We're experimenting with sqwiggle, screenhero, and use github and pivotal. We email each other constantly keeping the teams up to date. We have a VPN and use our ssh-keys for as much as we can. It works really well and I think the tools have come a long way.
It's good to see that the world we were promised in the 60's is finally coming to fruition.