Do it, but for god's sake don't get 'PhD disease'.
About 2/3 of the PhDs I know are the most smug, arrogant pricks I've ever met, all because they can wave around that piece of paper. They maintain this even in the face of overwhelming evidence of their ******baggery or incompetence.
Have fun in the ivory tower, but don't forget where you came from.
Oh yeah, good luck!