Depends on your practice setting. Several of my friends have 8 24 hour shifts per month, which is far more than residents at our program have (1-2 per month, depending on the size of the team). Of course, they aren't working the rest of the time like the residents are, so overall they are working less. Our NICU docs have a handful of 24 hour shifts per month (3-4, probably, though they have so many schedules that it's difficult to keep track), and don't usually have a post call day (i.e. they work 36 hours at a time) unless they are working the weekend. Our PICU docs do more shift work--the person on service isn't usually the one taking call at night, but they have other responsibilities during the day. And our endo, nephro, pulm, and GI docs take call for a week (or more) at a time, so have to answer all the phone calls from the outpatient triage, ED, and inpatient residents. So their nights can be miserable, or easy, but they still have to come to work the next morning. And GI and Nephro are lucky enough to have emergent things that they actually need to come into the hospital for.
So, yes, residency sucks. But I'd much rather have some experience with 24 hour shifts as a resident when there is someone else watching over me, than have my first 24 hour shift be out in the real world where I don't have that sort of back-up.