I can see both sides of this argument. I did the private transitional year in Tucson, and it had several months of hellaciously long, intense interning. Most notable was the trauma surgery month in which we pretty much went over the 80 hour limit every week, including one week in which I was on for 106 hours.
On the other hand we had a few nice elective months, including an interventional radiology month in which I probably spent a total of 20 hours all month in the actual clinic/hosptal (incidentally during my brief few hours of observation I saw someone have a brain aneurysm ruptured during an elective coiling procedure. . .yow).
The rest of the months were pretty standard, putting in 60-70 hours.
So, given that spectrum, would I recommend a busy or cush year? Well, first of all lets be serious, what is an "academically challenging" intern year? Generally there is little academics involved, you are doing scutwork for the most part and that is it. It definitely helps you learn the flow of admitting patients and working within the system of any given hospital, but you don't need to work 100 hour weeks to learn that.
So as far as being prepared to be an ophthalmologist, I don't see a whole lot of added value in doing a super intense intern year. I do look back fondly on the month of trauma surgery, it was a great experience to just be completely involved in the rotation and kind of get a feel for what medicine was like "back in the day" with no hours restrictions. It was great....for a month. I would not have wanted to do a whole year of that. I also look back fondly on the month of IR and having a great time relaxing.
Bottom line, I can see why people are concerned that ophtho residents are seeking out the easiest possible intern year. it gives an impression of poor work ethic. On the other hand I don't think that by doing so those residents are missing out on any true education that will make much of a difference as ophthalmologists.