I don't do a lot of B&M gambling, but I have been to the PepperMill - I loved their poker room. And I did well there, too.
That comp rate, if accurate, is way better than any comps I've seen online, which usually range from .1-.3%.
If you could play full-pay JoB or a good blackjack game at that rate, you'd be break-even or even slightly ahead, assuming perfect play.
Of course, real casinos don't offer bonuses, like the virtual ones do. On the other hand, you can't get free drinks from your computer, and it's hard to meet people, if you're sitting at home.