I have a follow up question: For the time that you spend "not working" would you prefer to "work"?
For me the answer is "absolutely!!!". Reading through some of the responses, it really seems that people are mixed. Either their "non-working" time is spent with side projects/training or they have become demotivated by problems with the work flow on their team.
For me the latter is by far the biggest problem. I was just thinking the other day that, as programmers, we need a kind of statement that indicates what we expect from the organisations we are in.
To be honest, I really want to work instead of write stuff on HN, so I'll leave this as an exercise to the interested. As an example, I think it is reasonable to expect to be able to spend whole days writing code (which means that someone else has to go to the meetings, and someone else has to clarify requirements, and someone else has to prioritise). There should be some clear resolution of differences of opinion (whether that be in technical direction, or whatever) -- a programmer shouldn't have to spend time arguing. A programmer should expect to have spaces both for interacting with groups of people and for quiet contemplation. I sure there are other (and better) ideas, but that's what I have off the cuff.