Many, many times on large university projects. Why, it's the way to go!
The best thing about an all-nighter is that a night affords so much time that you don't have in a day. Maybe twelve hours of no major meals, no lectures, no sports and no social engagements. The mind clears and the words flow.
And, if your deadline is in the morning, motivation is pretty much unstoppable too.
The only problem? They will kill you, one inch at a time.