Nuts and bolts programming isn't a bummer for me. There is room for creativity and ingenuity even in that kind of coding. I find the craftsmanship itself is the fulfilling bit.

The downsides arise when management injects themselves into the process. "Skip testing", "don't use source control", "don't refactor", "don't start building until the spec is complete" are some of the gems I've heard before.

It's one thing to be lazy or make mistakes - we all do it. It's another beast when you want to deliver professionally but you can't because it conflicts with a company's "way of doing things".