I have a long stock-coated GSD (with an undercoat). I don't think it's that much more work. I never give Kodee a bath unless he gets into something (rare, since he's a housedog). His last bath was about 4-5 mos ago, and he's shiny and clean and doesn't smell "doggie" at all. I brush (pin-brush) around his ears/head and the feathering on his hind legs and tail a minimum of 2x/week. I usually run over his body and ears feathering about every other day (just a 2-3 minute session), with a pin brush to get the loose hair out. So far this summer, I've used the furminator maybe 4 times altogether.
My dog doesn't have a super-long coat (he's not a true long-coat, like I said, he's a long stock-coat), but I would almost think that a true long-coat might shed less, with no undercoat. Kodee sheds some, but not excessively, and with 3 kids, I vacuum daily anyway.
I get compliments on his shiny coat all the time, and like I said, I don't spend more than 5 minutes/day on grooming him. Forgot to mention, about once every 2 weeks, I'll use a wide-tooth metal comb, and comb the "problem" areas (ear feather, pantaloons and tail) all the way through. Takes about 10 minutes. He's never had a mat.
The longest I think I've gone w/out grooming at all him since he got his adult coat was about 3 weeks, and he started shedding a lot more and looking dull. The first time i brushed him through after this, the shedding went back to "normal", and he was as shiny as ever.
Here's a pic - you can kind of see how long his hair is near his head/ears. Tail has very long hair, although it's hard to see here: