I loved my first job. Every thing about it. But looking back in hindsight, it was a vanity project of the ceo, and was never going to recoup the manpower investment. Requirements and goal posts were ever-shifting. I was too naive to even perceive role status and did little or nothing concrete to forward my career except turn out (quality) code.
I loved it.
I would be frustrated to distraction if I were in that position now.
The one consistent thing in my career is I don't tolerate jobs that have too little work to do. I've had 2 jobs at various points in my career where was I told to just hang out for extended periods of time, and in neither case did I make it a year working there.
For some odd reason, it always seems like getting that inertia is easier at the next job than the current one.