HiPhish: Apparently I'm not the only person who thinks so, the first result in googling "first person platforming" is a rant on the topic
http://www.escapistmagazine.com/articles/view/video-games/columns/extra-punctuation/9796-First-Person-Platforming Of course it would be that darn article. I genuinely like Yahtzee and respect his opinions, but I feel he can be a bit... odd about certain subjects such as this. I mean, he also thinks that driving games in first person view don't work for basically the same reasons as first person platforming, which I really think is complete horseshit.
In general, while I'm not necessarily the biggest fan of first person platforming, I'd say that it really varies from game to game. Recently, I've been re-playing Duke Nukem 3D, Blood, Shadow Warrior Classic, Shogo and Unreal, all of which have platforming that works pretty well and actually add some variety to the gameplay. Sure, you'll fall into bottomless pits every once in a while, but that's what those sections are for; they're obstacles. Complaining about that would be like complaining that the enemies can kill you.
However, then you have games like the new Rise of the Triad, which is just absolutely wretched in that regard. You constantly overshoot your jumps, slip off of tiny platforms or get obstructed by badly placed scenery decoration mid-jump. It's absolutely awful, compounded by the fact that there's at least one level that forces you to do several "challenges" consisting of nothing but that. The difference to the other games is simply a matter of design and physics, which are simply not particularly well thought out in Rise of the Triad. It's not noticable during the regular "running & shooting" gameplay, because that doesn't require the same degree of precision as platforming. That problem appears in Half-Life as well, where the jumping sections are simply not entertaining at all.
So, I honestly don't think it's really all that much related to the perspective, because that exact thing also applies to bad 2D platformers and it's what separates those from good 2D platformers.