When I start school in Aug. 2010, it will be 2.5 years since getting my undergrad degree for me. The time off has been great! I got married, lived in NYC while my husband was in school there, travelled, took photography classes, and saved up money. Now that I've been accpeted, I can't wait to get started, but I guess that comes with the acceptance for everyone.
Good luck with your decision. 🙂