Guys, stop with the FFXI posting please. This is a WoW forum, we don't need to compare THF with Rogue, because they're in completely different games.
That being said, there is no cooldown for most Rogue abilities (except for the standard two second ability cooldown that everything has) and only the energy bar limits your damage output. In parties, I usually ended up sneaking around behind the mob and dropping a nice large Ambush for three digit damage on a crit (So sue me, I was only level 19) and proceeded with a backstab, a short wait, then another backstab. Then I would slam down Expose Armour to make everyone hit better and I would continue my backstab spam. If they ever turned towards me, I'd hit feint and that usually turned them back to the tank, and if they ever started casting spells, I slammed Kick to break their spells.
As a Rogue, you'll be spending a lot of time looking at the monster, positioning yourself for the first blow and cancelling spells the monsters cast. This is different compared to a Priest who looks at hp bars, a mage who stares at his own mana bar hoping it doesn't go away before the monster dies, and a warrior who is constantly rotating her view to avoid adds. Rogues are generally considered to be the best single-target dps class in the game.
Also, we Rogues are evil bastards when it comes to PvP, because a lot of people don't look behind their backs when they're moving through contested areas. Silly Mages... they die before they can even launch any large spells on us. :D