Arguments in favor:

 - Some of our most prominent and active community members have [identified themselves as LARPers][1].
 - LARPers opens up a new demographic of potential users, which can increase views per day, [which is something we need][2].
 - LARPing and pen & paper RPGs have in common that they are much more oriented towards creativity, imagination and personal interaction between players; as such - while there is no term to bind them while excluding computer games - they are cohesive.
 - It's a slippery slope. There are games that call themselves RPGs that are very much like LARPs: e.g., Montsegur 1244 and It's Complicated.

  [1]: http://meta.rpg.stackexchange.com/questions/168/are-you-a-larper
  [2]: http://meta.rpg.stackexchange.com/questions/556/how-is-the-site-going-entry-in-area51-comments/