The biggest proponent of "you only need to work 9-5 and can still be a successful professor", Cal Newport, himself walked back those statements somewhat after he started going tenure track.
I'll give one corollary though, which is that there are some very successful professors who actually don't work that hard. I am friends with one; they're just simply not human. I remember reading from the same textbook with him and he finished the pages 3x faster than me. So the only way you get away with regular life in academia is to have a super human brain. The rest of us have to compensate by putting in the extra hours. It's not healthy, at least not for me, which is why I chose to leave. But many do it. And continue to do so. It's arguable if their lives are worse or they don't mind it, but it's not arguable that they are just morons who don't understand time management.
I also don’t believe for a second that a mere mortal can pay attention to lectures or read papers for 12 hours. Personally after 5 hours of lectures I can’t pay attention anymore, and it’s a similar for paper reading. Most people I know are like that, and frankly I don’t believe you can actually attend 60 hours of lectures a week in university given the scheduling constraints.
Look at Fall 2015 where I had 10 courses worth 32 units not counting the project course where the credits are awarded the following semester. call it 35 units. Roughly, a 3 credit course consists of 3 hours of lecture and a 1.5 hour tutorial. The courses I took that have more than 3 credits typically have a lab component that adds an extra hour.
You are correct that I didn't "attend" every single hour of those. But it just further proves my point that just because you're sitting in a room designated in your time table, it doesn't mean that you are inherently working. Instead of going to those classes, I used my time effectively and studied (not necessarily in the classroom) for a normal 8 hour day. When I say useful work, I don't necessarily mean that something is produced. Like you say, sometimes you need to find dead ends before finding the correct path. That's useful. Yes, you can work for 12 hours in one day. It's just not sustainable. A 80 hour work week implies one of two things:
1) You aren't working as much as you think. Go to the gym. Hang out with friends. Enjoy life.
2) You are about to burnout. Stop. Go to the gym. Hang out with friends. Enjoy life.
If you want to keep perpetuating that you need to be in your building for 60-80 hours to be a good grad student, you are directly contributing to the mental health issues seen among grad students.
1) If you missed my quotes around "work" it is because some people describe certain tasks as work equivalent to other tasks. The effort of digesting vs. producing material is about 2 orders of magnitudes for me. I took 60 hours of lectures (time spent in class) during one of my semesters of undergrad. 12 hours of lecture everyday. That is completely sustainable because all you have to do is listen. Reading papers is the same, it's a low effort activity. Something you can do for 12 hours a day. Yes, "advanced academic lecture" is more draining than Harry Potter but less draining than driving a vehicle.
2) Working hard (or long hours in the case of academia) vs. working intelligently are orthogonal. I can't really address the entirety of graduate school because history is going to be much different than engineering. Applied much different than theory. I'll repeat my claim, if you actually take the useful bits of a grad student's day, it often compresses to 1-2 hours. Yes, reading is important. Yes, there are often other teaching commitments that are usually treated like second class citizens. I'm not debating the time spent in an office. Merely, that the "60-80" hour myth really needs to stop.