Yes, self deception is a common coping strategy.
Looking at my own life as a parent, I have yet to feel like I'm coping. Rather, I find myself looking forward to the next opportunity to spend with my family. Judging by their reactions when I walk through that door, they apparently suffer the same coping strategy as I do.
Sure, if you only look at the positive moments. The net balance swings towards the negative. Parents don't see it because of choice supportive bias.
The "negative" moments are no more troubling than those elsewhere in life. Heck, a lot of those negatives are a great source of amusement for my wife and I, and they make for some absolutely adorable photos. Work issues have been much more of a chore than child rearing, and I feel my job is quite productive, in a nice laid back atmosphere. The net balance is FAR greater in the positive, than the negative for both work and family life. Maybe I'm coping... But damn if I don't have fun doing it.
Some free time and a good nights sleep.
The kids sleep fine, so I sleep as much as I want. I have plenty of free time, I just choose to spend it with friends AND family. Our children are active participants in our daily lives, not burdensome tethers. That may be the key for folks who think like you though, and again refers back to my original comment - if you're not ready, you're not ready. For those "adult" things you don't take your kids to (loud concerts, romantic evenings, etc) the kids LOVE spending the night/weekend with the grandparents.
Put simply, if you feel you screwed up your life and regret your choices, it doesn't mean everyone else did.
Then of course, there's the toddler aspect. As in, when I get home from work, my nearly 1-1/2 year old immediately begins asking for the iPad (by name, mind you). I've loaded up a handful of educational games, and it has helped us dramatically increase her skill set. Her vocabulary is growing by leaps and bounds, her hand eye coordination is impressive, her thinking skills (do this, then that, then that, to complete the task) have blown me away, in good part due to the interactiveness of the device. With a computer, using the mouse still hasn't quite clicked - but directly manipulating things with her finger immediately made sense to her. She wants, nay she demands, to spend her 30 minute windows of opportunity with the device. Her mother and I don't coach her with it either, we'll put the apps on and let her explore - and I'm constantly amazed with the problem solving skills of such a young mind. That alone was worth the cost to me. Between the conventional parent-child interactive learning, and the hands on figure-it-out learning on the iPad, something tells me she'll be well prepared for school in a few years.
Get hold of portable property. -- Charles Dickens, "Great Expectations"