This one is a grueling process: it takes me four rounds of fight to get it through. I have written more for response letters than the paper itself. The three referees and the AE were determined to kill the paper. In all three rounds it was the DE alone who keeps the paper alive.
It makes you cynical: the quality of your work is only a necessary condition. To publish, you need a bit of luck.
Dear authors (blinded for anonymity):
I am pleased to accept your paper for publication in MS. Congratulations!
The AE and both reviewers recommend acceptance. I also read the current version and I am happy with the contribution and the 15 page limit.