Agreed. I'm currently working 50%. I work every other week on a consulting job that pays the bills for an entire month for me and my family. The other 50% it's my time (and some extra time with the little ones).
I'm doing two types of work mainly: software development and management consulting. On the software development side of things I've been doing work on the backend of web sites (the most well know is http://www.signal-spam.fr/). On the management consulting side I'm helping a start-up that's growing rapidly to put in place some appropriate processes in engineering so that they don't explode :-)
I arrange my schedule like that by telling clients that I'm not available at certain times (the times I want for myself), using the white lie that I'm busy with a different client (which just happens to be me).
So far, two years now, I've managed to juggle that and bring in enough money. But there's been some standard of living decline as purchases for expensive items (say that new video camera I'm ogling) have been delayed.
