You have to weigh out what's important to you. For us, it was owning our own home after 4 years of renting. And as I'm the only one who has to worry about travel, it seemed a no-brainer.
I would much rather this commute - approximately 1.5 hours by train & tube/bus where I don't have to worry about the driving and can read or sleep or whatever - than the one I used to do in Florida, driving 45 minutes to up to three hours each way. And, interestingly (or not!) I cook a "real" dinner 4 out of 5 nights when I get home, unlike my usual M.O. in Florida which was drive-thru meals 4 out of 5, as I couldn't be bothered to cook when I got in.
I'm with you! Let me tell you my travel experience for today, being in Phoenix, AZ. I woke up at 6:30 AM, I started driving to Tempe (Arizona State University) at 7:00 AM and I arrived at my "parking lot" at around 7:45 AM, approximately 45 minutes later. I then drove in circles trying to find a parking spot for 8.7 miles, taking me 30 minutes to do so. I then walked to the bus stop for another ten minutes, and then waited for a bus for five minutes, and then rode the bus for another 5-8 minutes and THEN began walking to see my professor, which took another 5-8 minutes. I didn't see him till about 9:30 AM, so from my house to his office (approximately 24 miles away) it took 2.5 hours. WHAT!? It's crazy. Granted today was exceptionally bad, but even on a great day, I can't make the 24 mile trip door-to-door in under an hour.
(-) Parking
(-) Driving
(-) Accidents
It's not even about the time really, I'm fantastic with time management. If I was on a train or bus or anything else for the entire time I could have been studying, reading, sleeping, eating, whatever. You cannot really do anything while driving in traffic and trying to find parking. Even with audio of course material retention and comprehension is much, much lower when you are trying to drive, not to mention dangerous. So bring on the tube traffic, because I'll pick that over driving traffic with me in the driver's seat every day.