Good decision. I regret very much that I didn't make the same decision you did.

I did a 5-7 hour programming homework assignment, didn't hear back for weeks, and then it was just from a recruiter (sorry, we've decided not to continue the process).

I won't do it again, ever. It's not the wasted time that I regret so much. I do agree with you that there is a self-respect element to this.