[ QUOTE ]
Then I read
this where the second poster recommended against Limit because he felt NL was easier to learn, had less variance and because there would be an UNlearning curve when you made the move from limit to, in his words, "real poker."
[/ QUOTE ]
Sorry, but you misread that post. He didn't say limit wasn't real poker. He said (NL) tournament poker isn't real poker because the stacks are shallow, eliminating most post-flop play.
[ QUOTE ]
Now, leaving the "real poker" comment aside, is there any data from respectable sources on the variance of limit vs. NL?
[/ QUOTE ]
Yes.
People mean different things by variance. For all of the common usages of the term, there are data available.
If you want PokerTracker data, people post them in the relevant small stakes forums relatively frequently. My SD/100 in SSNL games ranges from 30 PTBB/100 to 55 PTBB/100, depending on whether I buy in short or deep, and how long I stay at the table when I have several buy-ins. In small stakes limit games, my SD ranges from 18 to 22 BB/100. This is a bit high, but I have an aggressive style (which gets people to play back at me with mediocre hands) and I love to tackle maniacs.
More useful might be the ratio between SD and win rate, or even the bankroll needed, which is proportionate to SD^2/WR.
NL 25 players may be able to sustain higher win rates, but at NL 100, 10 PTBB (20 big blinds/100) is a good rate. The analogous rate for $3-$6 limit may be 2-3 BB/100.
[ QUOTE ]
I'd also like comments regarding ease of learning,
[/ QUOTE ]
More hands get shown down in limit, which makes it much easier to learn. Also, preflop play is more important in limit, and there are good books on limit.
In NL, the preparation for a low probability critical hand is important, and may be hidden for hours. A solid winning player (who defends with 87s) and a losing player (who defends with K8s) may have the same results in small and medium pots, but the expert might win 3/4 of the huge pots instead of 1/4. In limit, your win rate is determined by your performance on typical hands, but in NL you have to analyze the rare huge pots and potentially huge pots where hands are not shown.
On the other hand, because the hourly win rate in NL is so much higher compared with the hourly standard deviation than in limit, you get more rapid feedback in NL. You can play well in limit, and lose for days. That much more rarely happens in NL.