You have to use PT to measure it.

On loose tables (45% preflop) expect 7-9 bb/100 (bb=2* big blind)
at 35% preflop this goes to 2-3 bb/100

The variance is 200-300bb - whatever the preflop. For some odd reason the variance on winnings is pretty "invarient". This can be alarming. If you're playing 0.5/1 $600 swings to make $6 can test you.

If you multitable you divide your variance by root (number of tables). Say you do nine tables then the variance drops to 60-100bb. - This is easier to live with.

You should note that rakeback and reloads can add 5bb/100.

Steve might disagree here but I think the variance and win rate between Limit and NL is pretty similar - given equally bad opponents on both games. The source of the variance is different. In limit you can't block ppl out and they can call you down with outsiders- and this happens over a lot of hands. In NL the variance tends to originate from two or three bad/good hands (i.e being rivered or getting a poor call).

__________________
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Doberman: "but Sarge, isn't poker gambling and just luck?"
Sgt. Bilko:" not the way I play it"