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1) Live tourneys have less players. 90-100 is usually a good sized field.
2) Live tourneys at low stakes, even in respectable casinos, often have insane blind structures. A 50 dollar tourney is going to get a rake from you, let you play a few dozen hands and get you out. On the other hand, higher stakes live tourneys 1k on up are going to have much slower blind schedules and allow more poker. I have seen some nice blind schedules on 200 and 500 buyin live tourneys.
3) The low end of the buyin for a live tourney is much higher than online, 30 is pretty much as low as it goes with a real turn around at most casinos, I'm sure you'll see lower, but 20-30 is pretty close to the low.
4) Because thats the low end, the caliber of player you are going to see is comparable to the low end online tourneys for 1-3 dollars. I've played in a dozen live tourneys (Won one at the luxor) and the player base is terrible.
Edit: Also, one other thing to consider when looking at schedules and the like is that you generally see about half as many cards in a live game with a real dealer than you do in an online casino, and since blind schedules are faster, a 15 minute schedule is more like eight minutes when you consider the amount of hands you see. That's a very very important difference.
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