I've been playing a lot of 5 handed NL tables lately on Pokerroom (usually play 10 handed). There is definitely a sizeable difference in play of hands as well as overall style of play.

I also see a large difference in the swings you take. At first playing 5 handed seemed great, in less than a week more than doubled my BR. Had some of my best days ever. Well everything seemed fine and I made a deposit down to my usual BR amount. Now after some crazy beats and some poor play on my part (think I went on tilt for a little while), I've lost about $2500. Actually dropping down a level or two now just because I don't want to reload.

So, while I definitely see the merits and potential quick money that can be made from short handed games, I've also experienced the down side of it. Once I build my BR back up and get back to playing my usual limits, I'm back to 10 handed ring.

May not be quite as quick or exciting but its produced steady, long-term results for me.