Anesthesiology is still an excellent field. The popularity is cyclical. Current issues include possibilities of declining reimbursement (like bundled payments), AMCs, CRNAs, malpractice, hospital administration, egotistical surgeons, worsening patients. We love to talk about doom and gloom.
Even with those issues, anesthesiologists will still make more than most other specialties. It is the highest paying field that an "average" medical student can get into. The savvy among you might start to realize that it doesn't make much sense to burn your life away competing against the uber-competitive medical students for the orthopedics or dermatology residencies when you can get into an awesome and high paying residency like anesthesiology.
I knew many medical students who went for the competitive residencies simply because they were competitive. It was as if their self worth could only be satiated by beating others. It didn't matter if they really liked the field or not. It didn't matter if that field was truly difficult or not. They just had to beat others.
Do you really think it takes an above average medical student to be a good dermatologist? If given the chance an average medical student could do well in nearly any field. There are other factors in play that determine competitiveness of a specialty. So, since most of you are near average medical students, and about half of you are a bit below average, why not go into a field that pays more?
A few corrections to previous posters.
Hours: I diligently logged all my hours during residency and was typically 65-90 hours/week, with the average being in the 70s. Now in private practice I have yet to break 100 hours in a week, but I still work 75-95 hours/week. Q5 1st call (24 hours in house), and covering about 1/2 of the weekends (1st or 2nd call). While on call OB needs me all the time for epidurals, redoses, emergency c-sections. ER and the rest of the hospital call all the time for help with IVs. Surgery center jobs are the low hanging fruit that is being gobbled up by the AMCs. I wouldn't stake my career on getting one of those and still making lots of money or having high job satisfaction.
Schedule: There is no predictable schedule. You go home once all the cases are done, including all the add-ons. You will typically have 1-2 slow surgeons each day, throwing a monkey wrench into the schedule, delaying other surgeons. And you are the peace keeper.
Patients: When in charge I have to know everything about the 35 patients scheduled for surgery that day, as well as all the ancillary spots, do all the in-house pre-ops, see the patients in our pre-op clinic, and the OB patients. Imagine completing up to 50 detailed H&Ps each day, deciding for each patient whether or not they are ready for the procedure, and what the best anesthetic technique is. I have to trust that my nurse anesthetists will then carry out my vision for that patient (difficult trusting others). When I am in the operating room myself I get to know the patients more intimately than anyone else.
Intensity: Every moment under anesthesia is intense. We just make it look easy. If you doubt it, watch a new CA-1 in his/her first case.
In conclusion, anesthesiology is still an excellent field. You will have high satisfaction. You can make more money than most other specialties. It has issues. Obamacare may or may not ravage it. No one can currently predict the future. My guess is I will continue to be happy I chose this field.