I completely agree. I've already told friends and family that if it doesn't work out this cycle, I most likely won't be applying again. I just don't see myself having a stronger application in the future, if anything it will be weaker. Not to mention the added costs, time, effort and soul-destroying wait! It's now or never and that adds to the pressure certainly. On the other hand like you said, all you need is one acceptance so until you've received results from all your applications, you can't let your head drop.
Also I disagree that there's shame etc in being rejected. The process is extremely subjective, random and I've seen people on this thread last year who got into Harvard but failed to get into what must have been their third or fourth choice universities. One of my own friends got into Stanford but failed to get into Cornell, Michigan and MIT among others. You simply cannot take any of this personally.