Anyone else have any thoughts on this? I'd hate to be wasting 20% of my mining power due to lower accepted rates if it's truly the case that more accepted/hour = more chance to find a block per hour.
Yes meatball you are correct, technically you are getting more chances to win the lottery by mining locally.
Pools ensure at least some bitcoin, but the trade-off is more points of failure and less efficiency, which for most is acceptable considering the odds of solo mining.