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Well guys, I took my Farnsworth lantern test today, and failed miserably, so no being a pilot for me.
At least I had a good backup plan, so I'm just going to go to college for either Aeronautical or Mechanical Engineering now (new goal, become an imagineer for Disney.) I'm just trying to look at the bright parts, no having to live on a CFI salary, no being away from home all of the time, but alas, no flying either.
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I feel for you, but things aren't all that bad. I too started off wanting to be a pilot and ended up an engineer. It has it's own rewards, and you could always try to go as a flight test engineer; I don't think the Farnsworth test would preclude that.
On the bright side, maybe you can make some big bucks and be able to afford a business jet, and you can come here to hire some guys to fly you all over. That's my new dream; to make enough to buy a business jet and be able to fly all around the world wherever I feel like!
Hang in there. Engineering is a good fallback, and you'll see that it can be exciting in a different way.