I have too (see here: http://jseliger.wordpress.com/2012/05/22/what-you-should-kno... for some comments, mostly job-related), and I think most grad students—at least during the first half of their experience—do think they'll be the exception.

They are rather intelligent, motivated individuals, who choose to work on projects that are more interesting/important than optimal ad placement or crafty financial swaps, and who are prepared to sacrifice some Caribbean cruises and latest model cars in return.

I think we'll have to agree to disagree. Most seem to be pointlessly delaying adulthood. Note that there are exceptions.

Without data the rest of this discussion might be pointless, but the prevalence of articles warning against PhDs seems to me to point in an important direction.