BUT, you will be teaching. And I assume those are class/lab hours, right? Which doesn't include any extra preparation or office hours you may be required to do?

Although it's not the same, I know people who are teaching with say Teach For America and what not, and it's a killer for them because they work beyond the 40 hours or whatever it is they put in during the workday. Less time for your own classowork, downtime, research, etc.

Be glad you're not rejected or are not getting any funding? :P

I think it's a reasonable and realistic reaction.