I'm sure I'd follow them if I was younger. I've decided to keep my job for a while, though, and eventually take that other stuff as an afternoon job- only the interesting parts of it, of course.
Reasons:
I had a long, hard talk with my current employers. I was assured, that they'll need my services in the foreseeable future, because there are only a couple of guys left with any idea about which piece of software does what.
Outsourcing in my company was done only locally, and in such a manner, that crucial knowledge remained in the house. So far, only incidental jobs were outsourced. Sometimes, outsourced code haven't even left the building- programmers & tech writers were "borrowed" from our contractors instead. In the future, more critical pieces of software will be outsourced as well, but their development will be closely inspected on weekly or daily basis. Every piece software will be reviewed & thoroughly tested upon delivery. The company intends to keep the big picture for itself. My gut feeling says that it's heading in the right direction.
I was promised education & training for supervision of outsourcing. Basically, it's the same thing as a project management- a chance for me to get a little higher on a food chain. Once I'm there, I won't have to worry about outsourcing anymore. If, by any chance, application development gets hot again, well... I can always get back to it.
Deadline for that +50% 18 month project is pretty tight. On the other hand, I was promised by my current employers, that everything will be done by the book, strictly 9 to 5, no fuss, no hassle. Now, I'm in this profession for more than 20 year (half of which self employed), burned out, and sick & tired of doing long hours. All things considered- for 100% more money, I'd eventually crank out code for more than 8 hours a day a bit longer. But 50% - no way.