At my state university, the students did most of the lab-work. Generally you expanded on a former student's research. The professor nudges you along, steers you in the right direction, gives you objectives, tells you key-words to search in journal databases, etc. etc. We had to prepare our solutions, as well as clean up after our experiments, but cleaning up after someone else sounds more like a job than undergrad research.
Your experience really depends on the field and what sort of research you're performing. It's somewhat like the lab portion of a course in that specialty, except a lot longer, there isn't a lab manual, and you can't really predict what the results will be. Also, you're limited by funding, so someone has to apply for grants.
One small (dry-lab) portion of a research project I had was to find (Google ftw) a free molecular modeling program and figure out how to use it with the enzyme we were studying. It could be used to predict how the enzyme would bind with certain molecules. We were looking for potential competitive inhibitors in order to better understand the active site, but the substrate was too expensive to test any random theory. It was something like a dollar per mg. Eventually I got the program to spit out 3D images of how the enzyme and potential inhibitor might bind, along with some quantitative data that my biology major brain couldn't comprehend, haha. I graduated soon afterward. Unfortunately the prof put the enzyme-inhibitor project on hold to explore green chemistry, so I don't know if/when another student will follow up on what I did.