In Silicon Valley, among IT vendors and within specific job functions, the pickings are much easier, outlook is brighter and treatment is much better.
Everywhere else, IT is turning into a grind of scutwork and thanklessness, dead-ended by managers who send the most interesting work to outside companies or contractors, and career paths darkened by the need to keep legacies running, users working and the lights turned on.
IT hiring analysts predict a huge migration of techies from their present jobs to (still theoretical) new ones as soon as the economy allows it. So far that doesn't look possible.
If it happens, a lot of companies are going to find themselves in a tight spot, trying to make the routine continue to happen as the people who keep the wheels turning suddenly disappear.
If it doesn't, and the compensation and treatment of the bulk of IT people doesn't improve, IT will become a darker, less productive, less innovative place.