Slacksally has it spot on. My DH is a teacher, I work in the private sector so I think I have quite a good perspective as I see it from both sides. I also work for a company that have just got rid of their final salary scheme for the lucky few people who were still in it, so have got a pretty good comparison of how the private sector do things vs the public sector.
My DH works very hard (as do people with a similar level of responsibility in my job). Excluding his commute he does an 8 - 5:45 day at school, and then probably a couple of hours Monday - Thursday evenings. He freely admits the holidays are great and I reckon in those he probably works on average 1 day a week, i.e so rather than the 13 weeks of holidays it works out as about 10-11 (so still much better than my full time equivalent).
Salary wise he is definitely on less than his equivalent grade at my work - but then again he has twice the holiday. So I think he's pretty fairly paid for what he does and he would agree. He also absolutely loves his job and that counts for so much.
What's crap is the way you do get a lot of people who do assume it's an "easy" job for people who couldn't do anything else. Academic qualifications are clearly not everything, but someone with a 1st class degree from Durham Uni (like my DH) obviously had more options than just going into teaching. I am quite often asked why he doesn't go and do something else more challenging or more useful and I think that's quite a shame - we should be doing everything we can to encourage good people into teaching.
There are major bad points about the whole system though, not least the appraisal system. It is very hard to either incentivise excellent teachers, or to get rid of crap ones. There should be something brought in so that there is some element of flexible pay (i.e. bonuses) where HEADTEACHERS could determine who gets them, as well as making it easier to get rid of bad teachers. This is an area where the private sector is streets ahead of the public sector.
As to the pensions and strikes - again, most of the teachers I know agree that changes need to happen and are very pragmatic about it all. But I also know that there aren't many jobs in the private sector where you'd be told your pay was being frozen for 2 years (universally across all people, good or bad performers), pension conts going up by 3%, you would have to work longer, all to get less pension. Things would be brought in more gradually or better (i.e. less of a pay increase one year to make sure the extra bit was going towards higher pension conts), increasing conts by 0.5% each year etc rather than hitting people harder all in one go.
And yes Michael Gove is a plank but then again I can fail to think of one education secretary from recent years who hasn't been. The last reasonably decent one was Estelle Morris who was in the position of actually knowing something about the profession having once been a teacher. My DH is no more scathing of Gove than he was about Blunkett, Balls et al.