I am very happily employed as a full-time software engineer; I travel a lot, and I write books along with this here weekly TechCrunch column; and I still find the time to work on my own software side projects.
Basically, a manager's job is to make other people more productive. What's one really good way to do that? Do the work that is getting in their way. Which means find out what kind of important work your developers dislike the most, and do it for them.