Hi Daneflyer,
You'll not see LH for years, and when you finally do, you won't have a weekend off again for a decade!
If I'm honest, as very junior pilot on one of the most senior fleets, even I'm able to get a weekend off here and there... and no, that's not from (seeded)blind lines or leave, that's from a trip line. Yes, sure, I work weekends but again this comes down to what you want for lifestyle... it suits me down to the ground to be at home during the week to see my wife (she works 9-5 in an office)... going away at the weekends is actually not too bad.
Everything else you mention though... spot on. People need to know all the facts before they apply so that they don't feel disillusioned in any way, shape or form. I know this much for sure... I wouldn't want to go back working for easyJet, it just wouldn't suit my lifestyle... and there in lies the rub.