Studying all-night long? Think again

I always go to sleep when studying. I never do "all-nighters". Never. I believe that it is a stupid idea, mostly because staying up and learning are two different things and brain always processes new information during the sleep and moves it from short-term memory to the long-term one. So, if you do not sleep, the information is there, but it is assorted, unconnected to other information and it is very short term.
If you are also tired before the exam (and you need to wait for it, before oral part of the exam), I believe you do worse than if you are relaxed and fresh. Maybe you could have learned 2% more, but what you already know, you know well, you can reproduce it and comment it in the relevant context.
So I don't do all-nighters. And now there is a research that confirms that : http://www.wtop.com/?nid=316&sid=1310354