It can work. My record is 4200 miles for several months- you need cash for plane tickets in that case, lol- the only reason it ended was that I was unwilling to sell my house and move, but until I came to that decision, it was a wonderful relationship. We had excellent trust and were able to see each other about a week every 2 months. I thought that the lack of physical contact would be hard, but it wasn't, and I was never even tempted to stray. I'd say that having a specific goal in mind for where the relationship is heading, that you both see as a good future, is important to a long-distance relationship.

You need:
EXCELLENT communication- misinterpreting things said on the phone or in text is a really easy pitfall.
TRUST- neither of y'all better be foolin' around, or even SUSPECT the other of it.
Free long-distance calling obviously
Somewhat compatible time zones- a 4 hour difference SUCKS trust me.
Some idea of an ideal future to keep your relationship moving forward.

Long distance is a pain in the butt, but at the same time, it can be freeing and rewarding. I'd be perfectly happy to do it all over again for the right man.