I think it all depends on the company you work for and how they define your responsibilities. I just went to work as a Prod. Support DBA and work in a team where I am only on call once a month for a week. If you are on call 24/7/365 with the company and no comp time or compensation for the extra hours then that would suck, but maybe it's time to look for a better company environment.

You are the only one who can determine if you prefer development work or prod support work better. Both are viable career paths and there should be plenty of opportunity for both.