That sounds right. I have two W is my undergrad transcript. It got to the point where the work load would have been too much. It would have dragged down my overall grade for the semester.
Dispite that, I just got accepted into a STEM graduate program. My advisor was happy with my work and research experience during graduate work. It was enough to push be pass the waiting list.
These are good points. I find that being around peers help me organize and plan my research in a more time efficient way. My lab (Office) is quite busy. Seeing colleagues working and learning is good motivation... good preventive for my tendency to procrastinate.
Coming from two years of work, graduate school is a much more balanced environment. There is no real penalty for getting to work late (or leaving early). We are in charge of our own projects thus any overtime work is willing work.
As someone returning to academia after two years of mundane work, I am thrilled. My mind is finally being stimulated again. Now, everyday I have the chance to learn something new and inspiring. Also, we have the chance to learn from new people from many international cultures.
... cannot ask for any more.