I had 2 friends who tried to do long-distance...he stayed in Glasgow and she moved down to London. She came back for Christmas, and he said their reunion was sensational. They had missed each other so much, and they just wanted to spend all their time together.
Then she came back in March, and they broke it off. He said the first time, all he could think about was her, but then when she came back and he had to deal with the reality of having a relationship for a week every three months hit him. And it had hit her. Going to uni made them develop as people, and because they didn't develop together, the differences were just too big to maintain a proper relationship.
BUT on a more positive note; I guess it just depends on the couple. He's since confided in me things about their relationship that makes it seem doomed from the start, but if you're rock solid right now, then I guess there's no reason why you can't give it a go.