The thing about W-space is that while it is a little more involved, maybe, than K-space, the more people you have involved, the easier it gets when you have help.
For example, if you want to live by yourself in a C3 or C4 with a static high sec, your daily schedule would be something like this.
Log in and launch probes. Find your static. Check all sigs in your system for K162s into your hole. Make sure your POS is fueled. Scout the chain up the K162s to see if there are targets. Go home and run your sites. Or whatever the case may be.
This gets really tedious if you're the only one doing it. But the more people who are in your corp and helping you, the easier it becomes to probe down static chains or run sites or do empire logistics.
As for PvP, it's really the same as nullsec. It's hard to catch the people who don't want to be caught. Smart folks who watch d-scan for probes or who put cloaked eyes on their hole will easily be able to POS up before you nab them which is why you see a lot of the big BRs coming out as a result of POS bashing. It really is the equivalent of a station or sov in null. If you lose your POS' in system, you no longer control the system for all intents and purposes. And unlike null sec, when the POS goes, so does all the shiny Bhaalgorns, T3s and capitals in the SMAs.
There still is hope for small roaming gangs in W-space though. K162s are oftentimes not scanned out by the residents of the systems they open into. A good prober in a cloaked T3 or cov-ops can net you great opportunities for PvP when you nab capitals or salvagers in sites. Because Sleepers aren't like normal NPCs, the fits you encounter (especially in higher end WHs) are less bear-like, no dual rep or active boosting shit. It's small gang buffer usually and there will likely be logistics involved in anything about a C4.
The Sleepers, with their neuts and tackle or insane alpha and even the system itself also factor into fights. If you go into a Magnetar, for example, your gang will have its damage doubled...but it's lock range halved. If you're not prepared for this, the locals (who are) will push your shit in and go back to their site. If you go into a Pulsar with an armour gang and try to fight a bunch of Tengus and Basilisks, you're going to be at a bit of a disadvantage.
Moving to W-space was probably the best decision I've ever made in EVE. I did the nullsec blob shit in Max 2.0, I tried to do smaller roaming stuff in RESON and in Nibbletek (pre-PL), I did the empire thing with my own corp and I did the lowsec pirate thing with BYDI. W-space is easily the most enjoyable.