IME it gets much more fun as they hit the home strait towards 3. They are sensible enough they aren't likely to kill themselves, they usually sleep OK at night, they drop naps and can usually manage to make it through the day without getting too grumpy, they are out of nappies and use the loo like a civilised person, they can talk, they learn fun things, they become good company and don't have meltdowns so often any more.
They are lovely when babies of course, very snuggly and their needs are simple (if urgent!). But they don't sleep, they don't communicate much and they can't do much. Young toddlers are very very cute and such fun with all the new things they are learning, but the emotional roller coaster ride with a toddler is so demanding and the clinginess can really grind you down.
My youngest just turned three and I can definitely start to be able to reason with him. He is very cute, talks well, says sorry to me if he does something wrong and gives lovely big bear hugs and plays very cute games with his trucks. He will sit and play by himself for ages and happily goes off to preschool twice a week without sobbing and clinging.
My eldest is five, and apart from being the worlds slowest girl to get ANYTHING done, she is a joy. I pick her up from school at 4.15 and I am already looking forward to seeing her and walking home together in the cold sun. I can remember when she was 2 though; I did love her to death but goodness I found it hard, the whining, the moaning, the clinging. If I look back at videos of that time - DD is 2.5 and DS is a newborn - I get flashbacks and shudder at the memories (as well as, at the exact same time, getting a tear in my eye of nostalgia!)