@Yanaka: regarding the "It still seems strange that undergrads were more prepared than MA holders for their PhD!" I think you might be looking at it the wrong way. @kayrabbit already put it very nicely, but I simply wanted to add that you have to consider your preparation in undergraduate. I LOVE-love-love my undergraduate alma mater, I wouldn't change it for the world. But the fact remains that I went to a university that doesn't specialize in Medieval Studies - or anything near it - had no Special Collections that I was aware of, and didn't get an Honors College until after my freshman year. Conversely, one of my close colleagues who got admitted to her direct-to-PhD had publication experience, encouraged and stoked by close counseling of a faculty member. (I had presented at a conference, and close relationships with my professors and advisor, but the idea of publishing had never been advised me or been anything that I'd ever thought about, which I think would have come up, if we'd had an Honors College earlier, or at least having some kind of Capstone project.) This is what I mean by preparedness, among other things: how your undergraduate career and experience has set you up for success. (In all fairness, my university offered me other wonderful benefits, which certainly DID and DO play a part in my educational success, just not as much as I feel I have from my Masters and hope for in my PhD.) As Kayrabbit said, this was a good fit for me, and I do ultimately feel better not going directly to PhD (as much as my ego would have liked it ).
Oh, and @kayrabbit: I think we have twin cats! Is yours fat and gray, too? (Mine started out at 1lb, and is now a proud 15!!! Eeks!