advantages to being licensed when wholesaling

[Patrick Britton]

howdy, 

there has a lot of chatter recently about getting an RE license when wholesaling.  i have thought about it, but in WA state it's 90 hours and $400 or so.  the 90 hours is the real turn off for me.  

could someone please rationally explain the advantages of being licensed? if licensed, must i work for a broker? what are the fees and costs associated with being licensed (in terms of MLS, etc.) how about pay the Errors & Omissions insurance, desk fees, lock-box fees, Local Board fees, National Board Fees, etc.?  

in terms of advantages, beside the additional knowledge base, what sort of legal protections are there for licensed "wholesalers?"