Knowing what goes into a Ph.D. is invaluable in making such a decision, and this book was quite helpful in that regard. Thank you!
maybe i didn't make the disclaimer big enough, though :)
Please don't take my comment as "you ruined my motivation for further education"; it was meant as "you saved me the trouble of finding out the hard way that this really wasn't what I wanted".
I have never been interested in being a professor, so I would be in it entirely to push my limits. But if I know I won't enjoy it (and as far as Ph.D. programs and publication go hand-in-hand, I know I wouldn't), then is it really worthwhile? That isn't to say I wouldn't emerge a stronger person at the end, but I would rather find ways to push myself intellectually that I will enjoy. I believe they're out there.
Edit: I just read a post about your book at http://blog.regehr.org/archives/743 which you might be interested in.
I really enjoyed my PhD experience; I had time to explore who I was and was able to accomplish what I wanted to. It wasn't so much of as a useless grind as it was a journey to enlightment, but my experience is unique.
All trades have their harsh, distasteful parts. The rest of the world is mostly caught up in a rat race about money, artists struggle to get exhibited in galleries, etc. You shouldn't focus on the negative parts, the decision should depend on what your ambitions really are.
What do you want to do when you "grow up"? If you are hanging out on HN, I assume you have some interest in start ups...read my other comment. And I can give you a lot more reasons why you should continue [especially if you are at one of the better institutions].
The best thing to do if you are facing the option of a PhD and also interested in other paths (startup, bigco, etc) is to fully understand what the PhD will do for you and what it is like. Including the impact it might have on your mental health, career, and ability to do a startup later. Reading essays like pgbovine's are a great way to fully understand this decision.