Personally, I do not mind it. I feared the idea when I was younger, but at least for me as I got older work increasingly matters to me. I'd work 100 hours a week if it meant providing a certain lifestyle for my family. My main anxiety now is if and when my S.O. and I have kids, that change will make the work/life balance thing a little more important than just wanting to get home early to go for a bike ride.
Manton hit on two things that bug me though: 1. a relatively recent attempt at many businesses to get the work of two people out of one due to the poor economy. I'm all for busting my ass to get a raise/promotion, but busting my ass so the company can employ half as many people and my reward is getting to keep my job..
2. The "blackberry" issue. Increased connectivity has a ton of upsides. The chance to work from home occasionally or have a flexible schedule is something really awesome for so many people, but I get annoyed at the expectation I am available 24/7 because I have a company blackberry. If there is a true emergency I don't mind putting out fires, but I don't think I'm alone in getting annoyed by the expectation that I will respond to mundane work emails at noon on a Sunday.
One additional thought. A friend of mine works for a large healthcare organization. His senior manager said something to the effect that if employees cannot get all of their work done in 45 hours, either they are not working effectively or the organization has an imbalance in how work is distributed. I definitely see his wisdom applying to many situations/organizations.