I can't say from experiance, but my CMR instructor went to design school and he talks about it like it is the best thing that can happen to MMs.
From what I recall him saying it is basically you learning how to operate a whole mess of awesome machinery, and learn how to make components such as valves and... things.
Thats all I've got, but its better then what other people have told you so far.
And by the way -- you lucky sonova... The North Carolina is the boat that I'd like to get on.