I am staying and are in the process of extending my service to age 55. Am I mad? Well possibly, but lets be honest, my trade has little use in civvy street and I currently get paid a bucket full of money to do very little. The Service gives me the security that I require and saves me having to buy a house in this country (own one overseas).
The RAF is certainly not the one which I joined nearly 20 years ago. It is ridiculously top-heavy (68 Group Captains at Wycombe alone), and the new expeditionary blah is not not what I joined up for, but overall the good points are still outweighing the bad points in my opinion. Had I any viable option in civvy street then I may have left, but having just calculated my pension at my exit point I know that extending my service is the correct decision for my circumstances