Hi Ashley,
the answer to what its like will be all too apparent if you read just a few of the regular threads on here. Its full of high and lows, frustrations and congratulations.
Not being work shy certainly helps, as does being aware enough to ask the question, but what you need above all else is the love of the subject.
It may not always come to the surface on here ;-) but most, i suspect, started with the love and hopefully end with it once the stuffing that has been knocked out is returned.
Practically, the work load is a full time job - 40 hours per week.. for 3+ years if full time but be aware you will be thinking of it constantly so 24/7 maybe a more accurate figure.
Application and ease varies, maybe others can assist here. I got "in" via a work programme so wasn't the norm.
On a final note, this forum is fab so when you start (up) come back.
Chuff