My question is this:
Could you really pass up the money that comes with a biglaw job if you are offered such a position?
My personal answer is no, even though money isn't everything. However, I plan to save as much money as possible so as to keep my options open.
I think due to heavy student debt, the answer for most people is no, at least in the short term. My law school had an excellent LRAP program and I would get virtually all my student loan payments covered that way, but I had some personal debt and other financial responsibilities (putting my counsin in Russia through college, making sure both of my grandmas over there have enough to eat, etc.) that I couldn't take care of making 30k/year, even if my loans were being paid for me.