The little one is very creative. They ripped the branches off, then found a trowel and hacked at it until they could break the trunk. They are an awful lot like the kids from How to Train Your Dragon, though, so maybe there is some Viking blood in there. And yes, very uncool, but at least they didn't go after the plum tree that was a gift to the family after my grandma passed.
Fedfireman, are you married? Does your wife work? I don't think we'd be able to manage it if my husband didn't work. As it is we're taking more than a 50% pay cut, even taking into account the full living expenses COA from MCW.
For me, planning helped. I've got detailed monthly budget laid out through August of 2013, we've paid off our debts, refi'd the house, fixed/upgraded a bunch of stuff in the house, and socked away some cash. We'll be cutting it close at the end of each semester, and with the loans (and depending on specialty) the first 10 years out of residency won't be much more glamorous than we're living currently. My husband is totally on board, though, since he's seen how bad of a fit my current career is.
I have a lot of the same worries about spending time with my kids that you do. I don't get a ton of time as it is, maybe 3 hours a night, and then weekends. I try to seek out the positive (or at lest not-so-negative) parts: I will still have some time with them. They will have plenty of time with other people they love and who love them. I will be modeling hard work and a love of learning. My oldest starts Kindergarten next year, and is very excited that I'll be going to school, too. I've read a couple-few different posters on here who went to school with kids and said they never missed a major event and had dinner with their family every night. I think that's a lot more than a lot of other people in the real world manage, and I'm determined to try to make that happen for us.