I was one of those who sang Second Life's praises in the beginning and tried to get creative types, especially writers, to join SL. I was a premium user, owned and rented virtual land, created and gave items away for free as well as selling them on the Marketplace.
While I still think that the idea behind Second Life is a good one and I still do visit from time to time, I ended up dumping my premium membership and abandoning my land because:
1. Even as a Premium User, I got very little customer support. Tech issues would crop up which would keep me from being able to fully use my land, yet I'd get "will get back to you eventually" tickets which went for weeks and sometimes months without answer.
2. Lag was frustrating and inescapable.
3. As much as I loved exploring creations made by other people, most places were ghost towns unless someone held (and heavily promoted) an event.
4. I got tired of the frequent software updates. I think this would have been easier if the software auto-updated, but each time I'd have to download the next update, get rid of my old version, install the new version, change my alias pointer in my dock. Doesn't sound like much, I know, but I've been spoiled by every other piece of software I own that DOES auto-update for me.
5. Regular and frequent loss of inventory.
But the truth is that even if all the above had been fixed, the SL interface still seems to be too complicated for most people to learn, or at least the group (kidlit/YA writers, illustrators and other industry types) I was hoping to get onto SL.
I'll still drop in on SL while it's still around, but the past few times I've visited my favourite places, it's seemed even more like a ghost town than before.
Beautiful and fascinating to look at it, but almost always empty.