ReadWriteStart had a nice article the other on the downside to bootstrapping. But better than the article was a comment by Micah Wedemeyer, the founder of DoLeaf and a part of the dev team over at BLiNQ Media.
The money quote:
So…the downside to bootstrapping is that it makes it hard to get VC money? Next you're going to tell us that the downside to being gay is that it's hard to pick up chicks.
Gotta love a good analogy.