Anyone here work in consulting?

[ChromePony]

So I'm a college senior at Northwestern, physics major and unfortunately its time to think about life after school. I was kinda planning on the grad school route, but I decided to drop a few resumes for jobs since I wasn't totally sure what I wanted to do. As it would turn out I ended up having a few interviews with a consulting firm, Deloitte to be exact, and somehow managed to get myself an offer, even though I dont know why anyone could possibly want me to work for them [img]/images/graemlins/grin.gif[/img].

So my questions to anyone who has experience in this field:

1. Whats the lifestyle really like with all the travel? You hear about talking to the people and stuff, but I'm looking for a more unbiased opinion.

2. Say I were to accept the offer and then get into a school and decide I wanted to go there instead, what would be the consequences of backing out on the deal?

3. What if I defer grad school and then cut out of the company after a year? Is there generally a min committment, should I be honest about this up front?

Any other words of wisdom would be great too, as this is all happening kinda fast and I have no clue what Im doing. Thanks guys,