I live in the expensive-to-live-in Boston area. I have an hour commute each way. Sometimes I stay late nights. And on days like today the option is either burn vacation time or telecommute because for my own safety's sake there's no way in hell I'm taking the T and the bus in this blizzard.
But... (and this is the clincher) I program robot submarines for a living. I'm a significant contributor to the code that navigates and controls AUVs around the world -- Australia included. In short, I get paid to do something awesome. If I were still stuck in the webdev ghetto or doing enterprisey bullshit for banks, I'd be on the first plane outta Logan as soon as the snow clears. But the sheer ass-kickingness of my job -- and the doors of opportunity this experience will give me later -- keep me firmly anchored.
And I think that's entirely rational.