I had no problems working my 3 month notice period, as long as you're not bonded they really can't do much to annoy you (more than they already do). Sure you need to sell your stuff and close your bank accounts etc but you would have to do that even if you were going to run.
It takes a couple days to work through their stupid little checklist and give back all their ID cards etc (you DON'T have to give back the licence) but it's definitely still worth it for the final pay they have to give you. Also, they give you a free shipment of a few hundred kgs to get your stuff back home.
I can't see the point in running away, unless of course you have a better job you're going to miss out on by working your notice. Even then, you'd want to be very careful if you needed a previous employer or security reference.