I agree that it looks like a pretty cushy number. On the debit side, though, they do seem to spend a lot of time deferring to other, more senior royals. I'm guessing that nobody bows as much as a prince. There are dull royal duties - meeting 400 pensioners or 400 boy scouts - but these duties only really come because the royals choose to accept them. Similarly, they could go where they wanted and dispense with servants and security (most European royal families have done so), but the British royals have chosen, and continue to choose, not to embrace a more modern model of a monarchy.