On most sites you're still a long ways from the money in tournaments that have late reg. that lasts for an hour (usually those tourneys will last upwards of 7hrs.) & for other tournaments with smaller fields the late reg. period is usually only 1 or 2 levels (esp. if turbo).
I think we give up so much EV if we late reg. Sure we can adjust & get it in & hope to double but we miss out on ALOT of the really weak players in early levels when we late reg.
Another thing we miss out on when we late reg. is getting reads on our opponents - ie. even though in later level play we're obviously making adjustments, it'll be the guy who was limping or calling raises with A-rag who will also likely be the guy who is calling shoves light (ie. with A-rag). Tons of other things we can also pick up on (obv) that we can make use of by getting reads on opponents.
Brad Booth - > "Like a fight... it's not how you start, it's how you finish"