I'm in the Army Reserves. Pay is shit. Yes, it has affected my studies. But it's made me a better person.. and isn't that what it's all about? <cough>Don't join the Army.. ever</cough> But it's good for a bit of stress relief. I'm rappelling off the Sydney Harbour Bridge later this month (19th I think), and we do all sorts of cool shit.
Seriously, I would recomend it to anyone, as long as you can get Kapooka over in the begining months of year 12, even if you can't do it in the holidays, it's not that hard to catch up.