Yeah, the Ph.D. is a big mistake. All the fellow students in the program I attended realized this at about the time when it seemed that we had too much invested (in time and effort) to quit. I guess some Ph.D. programs are better than others, but 95% of the grads I know (more than a few) agree that it was more trouble than it's worth (unless you plan on teaching at the university level where it's generally a requirement).

Good Luck