I'm a full-time freelance programmer, and over the last 4 years I've done several projects for clients like these, though generally I do work for agencies/shops

I'm a full-time freelance programmer, and over the last 4 years I've done several projects for clients like these, though generally I do work for agencies/shops. For reference, typical projects include a product matching software to link buyers at large chain stores with product (spectacular failure, by the way) and yet another professional certification automation site. First and foremost, it's interesting, typically greenfield work where I don't have to come up to speed on old code. Second, I'm am earlier in my career, and it has been a really good way of getting relevant, larger-scale projects into my CV. Third, I can charge the same rate as I do with my agency clients and that makes them super happy because they aren't paying the agency but, at the same time, there are a lot of issues that I don't have when dealing directly with a typical agency client: generally, they feel more inclined/involved, get back to me quickly, have strong (usually well formed) opinions. And while I can't really get a whole lot of money out of these clients, generally I get more than I would as a subcontractor on the project, which is quite a bit. There are indeed bad projects in the space... I worked briefly on part of an optimizely clone where although I personally liked the principles and thought they had an interesting product, they were very unorganized and generally hard to work with... but that's true of any space and at least I don't have an agency pressuring me to do the project even thought I think it is bad situation.... which, in the end is the best reason: I can walk away from these things if they don't go well, having been paid well, but less than they would have spent on an employee or hired a firm. Thinking about it maybe that bit of risk management indicates that it's not so much that these are "ideal" freelance clients, but rather than being a freelance is a better kind of relationship for both sides in terms of managing risk.