No, it is not that bad. In fact, I would argue that it is a great place to work. And that is coming from a guy who had a great corporate gig.
I am a hardcore AMer and am starting to think that many on this forum must be PMers. I do think there is a difference there. PM seems subject to more delays and reroutes. I have been here 7 years and have only been JAd maybe 4 times.
If you really want to know how life here is - this is not the place to ask.