Totally agree with your sentiment on bureaucracy. One of the first mantras I adopted at my "big company" was to get stuff done the best way you know how, and risk the slap on the wrist later. More than likely you have just taken the first step towards positive change in your company.
With regards to having interesting projects, I'd add that if you're in a big company, then in all likelihood there are tons of projects you will find interesting if you look hard enough (and if you're a tinkerer like a lot of you are here, this shouldn't be all that difficult). If you can honestly say you've rotated, shopped around, interviewed dozens of managers, and found nothing that can balance your compensation needs and your passions, then get out of dodge, stat. Otherwise, as my dad used to tell me, stick around until you run out of interesting/fun things to do.
With regards to having interesting projects, I'd add that if you're in a big company, then in all likelihood there are tons of projects you will find interesting if you look hard enough (and if you're a tinkerer like a lot of you are here, this shouldn't be all that difficult). If you can honestly say you've rotated, shopped around, interviewed dozens of managers, and found nothing that can balance your compensation needs and your passions, then get out of dodge, stat. Otherwise, as my dad used to tell me, stick around until you run out of interesting/fun things to do.