Yes, Braintree's initial paperwork is a PITA, at least as bad as any other payment gateway/merchant account set-up we've seen. And actually their fees can work out very high as well in the early days, because they have a minimum level each month whether you take any payments or not.

We're still looking into them because their terms don't seem to have any of the abusive conditions that we would never sign and their reputation for good customer service is attractive, but they are very far from ideal.