Also, when I read your post and replies, I see (read) more reasons NOT to play than TO play. Almost, as though you've subconsciously already decided not to, or at least if you do play and get beat, then you have the satisfaction of "being right all along".
Is it worth playing in tournaments (OTB) when you know you are going to suck?
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It's a tricky situation, playing in open tournaments. Below a certain level of skill (including but not limited to your rating) you're just gonna take a beating. Do you feel losing 7 out of 9 matches is a good time? For me, the last few matches might be played with my brain hiding behind a wall of frustration and self-loathing, which means I'm not only losing, but hating chess.
Others are likely more mature than I, however.
You also COULD lose a significant amount of ELO at these tourneys as well. I don't know that needs to be a concern to anyone who isn't reaching for Candidate Master, but it seems to bother you.
At your level, tournies are meant to be fun. Go with that expectation. It will be fun, and exciting and if you lose a lot, who cares. You're there to have a good time, not win.
Not sure how valid a player rated as low as myself will be considered, but from what I have read (the OP and some of your replies to other members posts) but maybe some of the "want" to play chess is absent. It sounds as though in your "glory days" there was not only pride but a sense of enjoyment in playing the game. Granted, the better you become, the harder the competition is and some may not enjoy that aspect of it, and I am not saying that is you at all.