Thank you all for your introspective responses.
The strangest thing is, 99% of 6 year olds' want to be pilots when they grow up. I guess the ones who actually do become pilots don't grow up!
If I were to list the factors thrown up so far, they would be.....sheer craziness, machismo, romance of making a living in an unnatural environment, glamour, adventure, dis-satisfaction with a routine 9-5 life style.... But I haven't really come across any thread where there is real disillusionment with a flying life. This may be because of the huge sums of money already invested in the initial years, or not, I don't know. So, while it may be true that "The glory days of aviation are long gone", what attracts young people to this field may still be the glory. I would really like to know.