Sometimes, I think the students are so excited about the end of classes, they don't realize that it's almost equally exciting for the faculty. While I enjoy teaching, by the end of the semester, I'm looking forward to the break as much as they are.
I'm hoping the free time will lead to a small research burst (SODA deadline for inspiration -- plenty of time!) but sadly the end of classes doesn't quite match up to the end of academic responsibilities. Besides the final exam to prepare (and administer and grade), May appears to be the month for all the end-of-year-items: oral qualifying exams, Ph.D. defenses, even a faculty retreat day. (Never mind the usual other business -- a PC meeting, a workshop...) Summer doesn't really seem to start until June. But still, the last class is a nice milestone, an achievement I can enjoy as readily as the students who have survived the semester with me.