I’ve telecommuted as a graphic designer for a huge real estate company, and it worked well for me. I had two small kids at home, so I just worked from home whenever I needed to do so. I would start work around 9 a.m., and take breaks for feeding, diaper-changing, nose-wiping, whatever, and check my e-mail every 20-30 minutes until around midnight. I handled the little work crises during the day, and tackled the big projects after the babies were in bed.
Now I freelance from home, with three little kids. I earn way, way, WAY more money than I did working for someone else, and I don’t have to waste money on work clothes, cosmetics, childcare, or any of that. And now I often don’t think about working until 5 p.m., and I’m done for the day by 11 p.m. or so. I’m much more efficient on my own schedule.