Having a team as Mike describes will make all the difference when it comes to work/life balance and ability to deliver to their clients consistently. It sounds as through their culture is one where each team member is passionate about their core focus, and more importantly, has each others back. My read is that this team is very self motivated, reducing the overhead for managing it, and thus reducing a lot of the typical problems with "job shops".

I can't say I go for the completely "virtual" company, but I doubt you will find 11 people that fit a core culture in one geographical location, so I get that.