So the hardware that is your brain is a dual core processor, but it's running a pretty rock solid OS that's able to coordinate threading and task scheduling fairly well without any noticeable lag time.
I think it's just the media trying to scare you into upgrading your brain to a quad core. Attack of the Cybermen!
No one is forcing you to work those 80-120 hours a week, except yourself.
I find that when you're working on a project you actually enjoy (and you're young with nothing better to do), you willingly go in on weekends and stay till 8 or 9 o'clock to fix that one last issue.
It's just a balance. If you enjoy your work, spend the time. It's fun! If you don't like it, work 3 hours a day and fart around on the 'net looking for a job you like!