The difficulty is guaranteeing a steady stream of short-term contracts. If you can get them and line them up I am sure it is great but I would not like the "unknown" factor of that.

I would do it once you have a steady foundation and some savings to fall back on should these contracts not materialise for a while.

Working fulltime is alright (it means you can be stable for a while) but not all of us are paid huge sums :-(