My main pet peeve? For god's sake, have a clue. It makes me a bit crazy when someone (this happens a lot with 'famous' vanilla players) decides "I'm just going to figure this out as I go." Yeah, good luck with that, I might check back in like 50 episodes.
Absolutely. I never watch vanilla guys play mods. Mainly because, like most people here, their "discoveries" are things I've seen and used 6 months ago.
I'd also advise anyone looking to do an LP, that playing the game and making it a video production are 2 different things. I tried doing an LP and it sucked the fun out of game play. You have to go much slower since you normally don't want to make huge progress leaps between episodes. Instead of derping around to relax from a hard day, you have to prep things for your episodes. You generally have a greater commitment to the game than normal.
You'll also have to factor in video editing time and uploading. This takes away even more fun game play time. Outside of the initial graphics for your youtube page, you now have to setup episode thumbnails, possible channel watermarks for vids, and making sure your files are organized and backed up regularly. You'll need to ensure you can have quite time IRL to record. Basically it's a lot of work.
After all hose things are considered, you'll have to decide how committed you are to doing this. You may produce 20 episodes and never break 100 views for your entire channel. Can you handle that? I got lots of good feedback both on YouTube and other sources, yet recording just wasn't as fun as I'd hoped. Other people find it fun even of they only have a handful of viewers.
I'm NOT attempting to discourage you or anyone from recording. I just saw that no one threw any of these caveats out there. I felt compelled to do so since you're asking basically how to make content for people. Do what's fun for you is the bottom line. Redstone is the most boring thing to watch someone build to me. Yet there are channels with +500k subs that are built around it.
Do what you find fun for you. Take the time to produce and edit. Make a plan for your playtime and stick to it. Hopefully you'll have fun, make friends, and learn a lot. Enjoy!