Last year, I went from 60 hours/week at 75K (once you account for bonuses and RRSP matching) to 35 hours/week for 60K.
For me, this is ABSOLUTELY worth it, because oh man the quality of life increase is so great (and, quite frankly: now I can garden, do my own maintenance, cook my own food, etc, and I'm saving more than I used to even after the paycut, which I hadn't expected.)
But my god, I'm glad I hadn't inflated my lifestyle like some of my old colleagues who were stuck there...