The last true Waterfall process company I worked for, I didn't see work for 2 months... there was nothing. I created all my test cases based on the documentation... when I finally got the project I was given 1 week to complete my testing and several things had changed and weren't properly documented and thus it was a mad scramble that caused me to work several very late nights. Not 1 developer that worked had worked beyond their regular 9-5 time slot and yet I was staying at work until 3am trying to get everything done in time.

I absolutely HATE waterfall... it's the one process I can actually say that I will not work for a company where that is their process.