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Expectations from 3+ years experienced people from the employers in java/j2ee

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I am just wondering what should a 3+ years experienced guy should know in Java/j2ee...Considering the fact that java is an ocean and it takes years to master it.But i had a look at job postings related to j2ee where a bunch of technologies right from from end (javascript,ajax,jquery etc) to the most advanced frameworks to middleware,JMS etc will be mentioned.I request the experts to please answer the below set of queries which are going through my mind.

1.Do we really get to use all the technologies in 3+ tenure in a company?
I am working for an investment bank through Indian multinational company for the past 3 years..Am just mentioning what happens in a typical service based companies:
.After the campus placements they assign everyone to a particular technology to work for the respective clients.

First Year:
.3 months of training,1 month assessments,3 months on bench (most of them were on bench for still more time),1 month is wasted after getting project also,3 months for knowledge transfer (Depends) and blah blah about the processes involved.

Second year :
Maintainence project..One change request kind of enhancement..2 months technical specification document,reviews,getting that approved ,lot of documentation work...4 months
Coding ,unit testing,regression testing etc --- 1 month
Code reviews etc ------- 3 months (since so many people are involved and they should have time :-))
Somehow second year passes by.

Third year:
Finally change request into the production.;Responsibilities of understanding of the systems and creating system documents;Similar kind of change requests.Third year passes by.

Lot of people get released from the project due to delay in getting the project from the client etc.I am not taking into consideration the time wasted during that:-)

2.Is this real time experience?..Doesnt a java geek who is passionate about technology and contributed to the open source projects, but not having real time experience can outperform 3+ year experienced?

3.How to enhance our skills if we dont come across the good projects in our organization?Is it ok to learn them and mention them on CV.

4.If the companies dont have good projects why they mention hell lot of technologies during lateral hiring which is almost impossible to know for that amount of experience?

A bit lengthy post..Please bear with me :-)..Thanks in advance.
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I can't speak from a programmer vantage point, but it seems to be standard across most professional occupations.

The standard that a lot of times they list the perfect candidate and they realize the odds of landing one is very slim.

author & internet detective
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Eclipse IDE VI Editor Java
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1) There's a difference between three years of experience and three years of time. What you describe is three years of time. I wouldn't downplay the importance of code reviews and the like, but if that is all that happens for months. The list of desired technologies is desired, not real. Most people won't have that many either.

2) It should be real experience not just duration. And contributing to open source projects *is* real experience.

3) Yes. You put them in a skills section rather than with a project. Or you work on a project in your free time and list that.
Sachin rakesh
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Thanks Jeanne and Karl.

Means we have to learn on our own and do some dummy projects to enhance skills rather than expecting our company to move us to some exciting projects.I think only 25% people are lucky to get into some good projects,rest 75% are in maintainence and support :-(....Anyways hard work and learning new technologies is the mantra to keep updated to the changing market needs :-)..
Ranch Hand
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Eclipse IDE Spring Java
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Whatever you have written are very common in service based companies in India. But, yes, what you learn out of it is most important. You need to kepp on updating yourself, also do some POC/projects in the technologies as you said.

I disagree in you telling people in Maintenance and support are unlucky. There are very good opportunities even in this projects, like, improve documentation, use new technologies, people should just have to open their eyes and see it.
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