well, i've been doing QA for 3 years now. I'll give ya a break down on how it's not "playing games for money"
Currently i'm working on testing abilities. I use dev tools to add all abilities to a character and then use each one, in order, and verify every aspect of them: do they cost the correct amount to use, do they play the correct animation, do they play the correct effect, do they do the correct status effect/damage/healing/etc....ad nauseum. When i finish with that pass then i'll start over again.
On previous projects i would actually spend days running around an empty (enemy-less) world just verifying collision on the navigation mesh.
A couple folks get really lucky and end up working as critical path testers. They actually do get to paid to play games. They are the guys who runs through the game and makes sure that you can go from start to finish without dev tools. Those are the guys who can beat games in like 20 minutes and know every exploit out there. I critical path tested a couple titles, which is alot of fun (although if i ever have to play Deathrow on xbox again i'll die)
QA is alot of fun, it gives you a chance to get your foot in the door in the industry, and you learn alot about the industry while doing it. But have no illusions, it is work, it does have it's days that suck to the eleventy billionth degree, and it usually doesn't pay much.
Getting into it is also a challenge. It generally requires knowing someone or wandering into the right spot at the right time. If you live in the seattle area it's easier, since there are a couple temp agencies with contracts with Microsoft for both PC and Xbox testing and they do have positions for folks with no prior experience. I'm fairly sure that cali has similiar temp agencies and i'd wager taht Austin and Vancouver both have something or will have something like that soon.