It is cool. Hours are dependent on the rotation; internal medicine may be from 630am-4pm m-f, and 7am-1pm on a weekend day, with call (staying overnight) anywhere from every fourth night to every sixth night.
You have gone through a lot of nonsense, memorization, etc to get to this point, so you appreciate it! You are a part of the medical care delivery team. You may write orders, you definitely write notes, perform history and physicals on patients, and come up with treatment plans.
It's all good fun. Very enjoyable.