I'd still say yes, I think. I've managed to end up as a programmer at a small studio that makes games and game-like things, with some pretty cool coworkers. We don't really crunch here, and the times they've asked if people would mind working overtime it's been actually-voluntary, with overtime pay, and not more than like an extra 8 hours/week.
I'd like to move to a job at a studio that makes games I'd actually ever want to play, in a better state, but the crunch horror stories from "real" studios, the likelihood that my salary/cost-of-living ratio would change unfavorably, and the prospect of re-entering job interview hell have me scared to try to make the jump.