We are not exessively happy. When we encounter illness and pain of any sort, we equanimity because our minds have been well trained. The true refuge is the trained mind. All of this is known as wisdom which knows the true characteristics of things as they arise. Wisdom arises from mindfulness and concentration.
Concentration arises from a base of morality or virtue.
All these things, morality, concentration and wisdom, are so inter-related that it is not really possible to separate them. When mindfulness of breathing is practised continuously until the mind is quite, this is the arising of concentration. Thus the practice of mindfulness of breathing can be said to be the course for all development of morality, concentration and wisdom. They all come together.