I took a commuted value way back in 1998 as I left a soul sucking job at a company with a DB plan and have regret, not for leaving but for taking the commuted value. If I was to buy an annuity today from the commuted value plus investments returns it would provide me an annual income of 4K$/yr whereas had I stayed in the plan I'd get close to 20K$/yr.
Problem we have with our tax code is that if you're in a DC/RRSP you can never catch up for promotional, wage uplift or for market performance. 
Of well, doing really well with my non-registered savings, just don't like the fact that I can't self fund the promotional/wage increase gap the same way those in a DB plan can. The part that sticks in my throat is my taxes go to cover government funded DB plan promotional/wage increase gaps. Good for them, not for me.