Honest but harsh truth -- for some is it worth it? Yes. But on the whole is it taxing enough to become unbearably disproportioned? Yes. In the modern AAA blockbuster development environment, making a great big polished game is as much a passion as it is a sentence. Blood, sweat, and tears is always fine, but crunching to see your work finished means you must believe in and love that work a lot and hopefully not be inclined to slave on, along with hundreds of other employees, on other products for years on end. Once or twice is manageable, albeit still grueling work, but the idea is to not start a pattern that will make for more bad examples than good...I assume it's hard for development processes to emerge from the final stretch with their staff feeling exhausted but aptly rewarded, instead of rewarded with apt exhaustion.
Because of that I respect these people; these are hundreds upon hundreds of people working day and night just on some stubborn code that will quantify anything from 3-5% to 10-25% of their game and it seems like it'll never, ever end. With that, hats off to the workers at Naughty Dog, Ubisoft, Rockstar, Square Enix, and to every wide-scale body of men and women soldiering the tough, stark land of game development -- because in the end, they too know they're making something that someone will play, and that in some small or big way it will matter as long as it is shipped, and that somewhere in that program was the hard long day they spent refining that technical lockjaw.
It doesn't individually excuse each game's problems, and games still generally suffer from modern-day oversights and neglect, but then again that can be true of nearly every generation. What saddens me is that, like Hennig said, the days of a game like Uncharted 1 may be long since gone, and an age of over-development and diminishing returns charges in. For the sake of all of us, here's to hoping some breakthrough tech can pave the way for a more efficient future..!! *raises Future Pizza*