I only ever usually stay up late or pull all-nighters if I absolutely need to.
By which it usually means that I've been an idiot and decided against doing important school work, and then have to spend the entire night doing it the day before it's required.
This hasn't failed me yet, but I'm expecting fail eventually. I know for a fact that I don't think as well when I'm tired, and I get distracted much more easily. So, if you do end up pulling an all-nighter for some form of work, make sure you actually work as well into it as possible. No point putting yourself through a lack of sleep just to have a failed piece of work.
If I've not pulled an all-nighter due to having to work, then I've usually done it by accident. Tends to be that I got distracted somewhat and ended up either watching something all night, or playing some game. I only ever find myself doing this on weekends or holidays though.
