I was eager to do it. I loved it. But in retrospect, I realized it was a lot of work. I'm doing an assignment now that took a very long time to finish. It made me realize that my $200-250 assignments weren't bad gigs at all. They were quick and easy, and the check's in the mail in a week. (And if you don't know how great it is to get paid within a week, well, then bless you. I'm used to waiting a month while the water bill is waiting.)
So, I don't believe in the hard-and-fast rules of $1-$2/word being the be-all and end-all of freelance writing. Good luck!