According to my limited experiences, flying is indeed a pain now, but only if you don't leave the US.
On Monday I flew from San Jose to Indianapolis, and on Thursday I flew back. For each of those two domestic flights, I spent about 30 minutes waiting to go through the metal detectors. I had to put my belt through the X-ray machine. Since I didn't check any bags, I didn't have to deal with the huge lines at the ticket counter. If I had, I probably would have needed the two hours of lead time the airlines are recommending.
I'm writing this now from the San Francisco airport, on my way to London. It took me a total of ten minutes to check in at the ticket counter, check a bag, and go through security. I rushed out of the house to get here three hours before my flight. Sigh.