I'm never quite sure how I'm supposed to feel about it. Graduate students, querulous animals that we are, like to complain about having lots of papers to write and grade. I would often agree: juggling all the concerns of a teacher and a student at once can be frustrating and tiring.
But then, as I drive through the rain to go to the gym, I watch the undergrads filing from building to building, exam to exam, and I realize: I get paid to sit at home, read some books, and write some stuff. That's a pretty nice gig, right?