I just stumbled accross this thread thanks to Miffed' bump.
One point to consider - and I havn't time to read all of Demi's BR posts yet - I just skimmed this thread.
1) I
don't think anyone has mentioned that while multitabling decreases your
variance (with respect to just playing at higher limits) this assumes that MULTITABLING HAS NO EFFECT ON YOUR
WINRATE. I think if this is true - then you are either some kind of multitasking god, or you could be playing better. I find that if I 2-table SNGs - I
don't feel like I am playing as
well (no
sample size, sorry). And SNGs are the least read dependent for a given limit.
2) Playing lower limits and building BR slowly also assumes that:
a) You have an infinite amount of time to play poker
b) Doubling your BR (or increasing it enough to move up to the next limit) is a significant amount of real money to you.
E.g., my BR is about $1000. So I am rolled to play NL50 or $25 SNGs, or low-limit MTTs. But I only play like 4 hours a week or something pathetic like that. So, I will basically never double my
bankroll without going on a huge
rush.
In this
case, I would argue that I might be better off playing slightly above my head, hoping to
catch a good run and doubling my BR - BUT dropping down if I lose, so for example playing 100NL with an effective BR of say, $250.
Note that this is a HORRIBLE idea if you actually want to ever cash, or pay bills or whatever. I
don't forsee getting to play much more than a few hours a week for a long, long time - so I am just trying to become a better player while not going bust (and maybe if I get lucky, I make some money).