> Personal freedom. As a PhD student you’re your own boss. Want to sleep in today? Sure.
This is largely true, but only if you're on good terms with your advisor and they're happy with your progress. God, I miss being able to sleep in until 2pm.
> Personal growth. ... you’ll become a master of managing your own psychology
Yes, it's definitely a roller coaster. I know what happens to your body after a month when your only calorie source is peanut butter and white bread. Depression, random trips to Canada, and more.
> Picking the school. ... your dream school should 1) be a top school
No, at least, in mine and other's experience, you should go to the best school where you're still capable of being in the top ~1% of your graduating class. You'll feel like you're the best and that's almost all that matters (Malcolm Gladwell's talk [1]).
> So you’ve entered a PhD program and found an adviser. Now what do you work on?
You will not be interested in the same exact topic for ~5 years straight, so keep that mind. Try to keep it broad.
> Giving talks
Do this / practice this as often as possible. It's how you'll get hired (or not). I've had to sit through some embarrassingly bad ones, where the candidate then has to survive the next 7-hours of interviewing where everyone knows they're not getting hired. (In my experience the talk is first thing in the morning.)
[0] He gave the fields of "Computer Science / Machine Learning / Computer Vision research" as a disclaimer, my disclaimer is that I only know about experiences in molecular biology / chemistry / materials science / synthetic biology / microbiology. [1] https://www.youtube.com/watch?v=3UEwbRWFZVc