I don't have a lot to say here, but I will add that I've been in IT for about 20 years now. I've always dedicated significantly more than 40 hours per week, in general, but I expect to have a little slack on the weeks when I don't/can't.
My prior work experience is much like Steve's -- some companies compensated (at least while they were viable), some didn't. Currently, I work from home, so it seems my work day never ends. However, I'm virtually never compensated for that time, though I wish it was a clearer issue.
But, the entire reason I'm even posting here is that I was in the U.S. Army many moons ago, and, even before I was deployed to Iraq, I was effectively on duty 24/7. I was lucky if I made US $1000 per month! So, I think anyone complaining needs to review their prioritites. Not that you're wrong, like I said, I still "want more", but I always think back to my Army days, and am grateful I can watch an episode of the "The Wire" or "Deadwood" or "Battlestar Galactica" at lunch. And I "seldom" get shot at in my current line of work...
At the same time, if I wasn't so old, I'd gladly take the place of one of the "kids" that is over there now.