I enjoy playing limit more than NL overall. Though I also think NL is a better money maker for me most of the time. But it's hard to get people on the limit train because it's much less exciting.So, play shitty all night and end up a winner because they suck out once. Yep, that's a drawback.
Listen, I know I am climbing an uphill battle here. I am trying to point out (and pretty successfully, mind you) that LIMIT is a much better structure for home games....ESPECIALLY for this home game. If the players are so worried about losing money that you would consider scratching cash and going to a tournamant structure to limit losses, then your structure is the issue. Limit fixes that.
I would also like to state that I am a pretty good no limit player, and in a cash game, much of the time NL structure is the better structure for me personally to win money. (If that was my primary driver, I would be at 2+2 and not here though). HOWEVER, it is more cutthroat and if you just want an evening of cards, it can send players home pretty early.
I disagree slightly about the speed at which people lose money in limit though. Often with inexperienced players, they play WAY too many hands in limit because it's so "cheap." So you really have to adjust your stakes accordingly. That's the key. It's easy to burn through 20-30 bets. It just doesn't happen in one hand.