We determine the nucleation ability of argon clusters from Monte Carlo simulations. The nucleation rate appears to be defined by a sole characteristic of the clusters, namely, the stability. The stability is calculated as the ratio of grand canonical growth and decay rates and can be assigned to individual cluster configurations. We study the connection between the stability of the cluster configurations and their volume and total potential energy. Neither the potential energy nor the volume of a cluster configuration has a clear relation to its stability, and thus to the nucleation ability. On the other hand, we show that it is possible to use a specific volume for each cluster size to calculate the work of the cluster formation. These clusters with a unique volume have the same average stability as the full set of clusters. Our simulation method allows us to study the effect of possible deviations from equilibrium in the cluster configuration distributions. We argue that the nucleation process itself can produce a source for such a deviation. We show that even a small deviation from equilibrium in the cluster configuration distribution can lead to a dramatic deceleration of the nucleation rate. Although our simulations may overestimate the magnitude of the effect, they give qualitative estimates for its importance.