I am in the same boat as you in that I only get to play about 10K hands a month if I am lucky. But, I think that means that I must play by even stricter bankroll rules than those who play 50K+. The reason being it will take longer for my variance to even out as I am not putting in enough hands. If I hit a 5000 hand downswing it will last days or weeks, not a session and a half. I am playing 100NL and am not even thinking about 200NL until I hit 10000, and even then I would probably want 1-2K as a buffer before taking a serious shot. But then again I believe in playing extremely overrolled.

If you are serious about poker, then there is never a reason to play underrolled. If you are just having fun and don't mind that there is a (probably not insignificant) chance that you will go broke, then go ahead.