Yes, very much so. The majority of reporters I've dealt with have left their egos at the door. Copy editors speak directly to reporters and only go through news editors if the reporter can't be reached, or if there is a disagreement. Some copy editors read back on stories and send them to type. The potential is to move up to slot work.
Folks go to other desks, other papers, or into management.
The greatest weakness is the relative lack of experience, both in length and breadth. Many of those on the desk have little experience outside of Dow Jones. 2 years, but then again, the overseas copy desk has been in New York for only about 6 years. Extra pages are okay.