OT is for suckers
There is no reason to tolerate a consistent death march. This smacks of two issues--poor planning/scheduling by management and abuse. It also provides an incentive for the best developers to fly the coop. That leaves the great unwashed, and schedules creep yet again.
This is why I contract. If you want me to work 80 hours/week, I charge you for 80 hours (I don't charge 1.5 for > 40).