Much of the problem is a result of the publishing model - deadlines are inherently more stressful when they're inflexible and you're expected to deliver a 100% finalized product.
My studio (EA2D, a new division of EA) is developing web-based games. We get to have all the fun of building badass games without the stress of delivering a hard-media product. In response to the post title: yes, for us, it is a very happy place.
Incidentally, we're aggressively hiring the best and brightest: http://www.ea2d.com/jobs/
Contact me directly: mikeb@ea2d.com