Tis right, tis right, I'm finally a senior illustrator at my school.
Currently working on developing/doing thesis work, which is and isn't all it's cracked up to be. I've actually got enough free time to lead a Comic Creation Club, so it can't be that bad.
It's been much harder emotionally than any actual problems with the work load. When you get to this point, you feel far more unsure about your abilities and confidence rather than anything else. It's very strange to compare that to the freshmen, the outlook on work is complete different. Not bad, just different. I feel very old when I see them talking about projects and art; my view has grown so much.
Currently I'm working on my wax chess set, at some point to be casted in aluminum and bronze and the chess table to display the set. I have already bought some antique chairs for the table and a friend of mine might be requested to weave a rug for me.

(i'm so lucky!)
Illustration wise, I'm merely in the research phase. I'm fighting my instructor/ignoring her completely because I know what I want my thesis to focus on and she wants something else. It's too much for me. But I'm doing research on foundry and I have three weeks. I cannot "put the cart before the horse" I'm told over and over. *laughs* Common for me.
There's still a lot to do, but it is getting easier as the work load builds up. I'm surprised by where I fail and where I succeed day to day.