Three big problems with open carry:
-Nervous whackjobs soil themselves at the sight of an evil black pistol. By itself, I could care less; but if it means long discussions with LEOs or casino security on a semi-regular basis, it just isn't worth it to me.
-You lose the element of surprise when you go for your gun. "Here, I will give you my wallet" is much better than trying to draw and fire against someone already covering you with a firearm or other weapon at close range, and can clearly see what you are trying to do.
-Weapon retention. I have never taken a class, read a book, etc. If you are going to carry in a holster in plain view, it seems important to know how to retain your weapon, should someone decide to take it from you.
Just how I see it.
Wolfpack, it is a hassle and annoyance to have to pay to get a CCW, but it is worth it until such time as we can get the laws changed to a situation like VT or AK.
edit: No I don't think that open carry is something reserved for the not-so-well-endowed. I would consider it while hiking, etc.