My LARP experience-
I have done the Vampire once or twice. It was very very boreing. The reason isstated above. Its a bunch of people sitting around talking and nothing really happens. I have done amtgaurd. It was very very stupid. Why? It was a bunch of guys in a park just hitting each other with badly made boffer weapons. In fact it was SCA light. There were no quests, plots or characters. It was a society. Ok this is lame.
I have not tried NERO and we will get back to that.
There is only one goup that I have found that can do LARP right (remember, I have not done NERO, but from what I understand is that it may fall into the do things right category). The group that seems to do things the right way and is a great group to get into is the International Fantasy Gaming Society. They are a boffer weapon group (but the swords look like frikkin swords with blades and hilts and such). All they do is run adventures. Admittedly the adventures take a production staff and they play on ranches and out of the way parks. They have safty staff (whiteshirts, white is the color for invisible in game) and go to great lengths to make the adventure seem real. This takes a lot of coordination, money and time, but the experience is well worth it if you are going to larp.
NERO always sounded interesting, but I never got to do it. Now, I am not really into the live thing anymore, as in the end it was too limiting. However, the IFGS was one of the greatest bunch of people I have ever had a pleasure of gaming with. And in the LARP hobby thats saying a lot. The cretin qotient in IFGS is far lower than most other LARPs. From what I have heard about NERO, I would expect the same.
If you are interested in LARPing
check it out.
Aaron.