Yes it can be good. It can be bad. But the same can be said for offline relationships. People like to assume because you're online you're at a greater risk to be mislead. Well, i'll point out all the women who married church going men, offline, and ended up cheated on, abused, abandoned, or any other number of issues including divorce. Obviously the ability to hide your true self is not something only for online. And now with all the voice and video chat options available, and high speed becoming more standard for most users the risk of hiding your appearance is lessened.
Bottom line is, if you don't use wisdom you put yourself at risk, online or offline. Don't rush things, take it slow. Most people who date offline tend to go fast. Being online going slower is a bit wiser. But the great thing about online relationships is you get to actually know each other quite a bit because rather than going to movies or other public places, on dates where much of your time is spent not talking, being online most of your time is spent in conversation.