I have been working with migrants for 30 years.
"I was told that as a contractor I would mostly be constantly coding"
False You can complete most of the new development or a lot of maintenance. Depends on the relationship of the contract firm.
"no BS meetings on project charters and phase steps
False The contract firm should release a concert. As a contractor, you write a lot of proposals that are shot down in flames. Internal initiatives are quietly turning into something else. Extraordinary initiatives are turning into ugly ones - contracts are being dismissed - there are lawsuits.
"and that I will learn more in a year than in 10 years at my current job"
True If you pay close attention and take careful notes. More importantly, if you have done your homework outside the workplace. I trained a lot, but I think that 75% of the skills that I use regularly (Java, Python, DB Design, Architecture, Apache config, HTML), I had to learn on my own.
"what to expect if I decide to go on the contract route"
Parts of it are bad. Parts are good. This is the job - that’s why they have to pay you for it.
"if the trip is worth it.
Let me list the benefits: skiing in Anchorage, skiing in Utah, diving in the Florida Keys, flew the whole first-class family to San Diego using Hilton Honors points to stay at Waldorf = Astoria.
Let me list the problems — children who are in serious trouble at school. Lack of family time due to travel. Unlimited air traffic tension, including all TSA safety theaters throughout.