Twice as bright, half as long, burnt at both ends... whatever you do, make it worth it.

As a college student I beg to differ

I've never had one to look back on, at least not in the recallable past

That's false. My best days are, in part, a result of plenty of sleep so I look back on them with gratitude.

"No one looks back on their life and remembers the parts they were unconscious for." How pointlessly obvious. As a fun fact you reduce your risk of food poisoning 99.9% by never taking in nutrition. Your mental and physical health depend on regular sleep, like most things quality over quantity is paramount. A few late nights won't kill you, and sometimes it's worthwhile to sacrifice some sleep for a fun night or an important task; but some people just can't function on little sleep. With a proper schedule and time management you can usually enjoy the best of both worlds.

I do. I still remember the two best nights of sleep I ever had.