I've pondered recently the true impact of procrastination and come to realize the real problem isn't that you get less done by procrastinating, it's that you're less happy during the time you spend avoiding doing something unpleasant.
Consider for a moment the prospect of going to the gym. Few of us actually look forward to going. It's uncomfortable and quite frankly, boring. Promise yourself you'll go in the evening, and you'll spend most of the day dreading the thought of actually going. Your mind will wander, you'll complain to other people and wind up being less happy throughout the day than you might otherwise have been.
The same applies to most anything unpleasant. Filing a tax return, having an uncomfortable conversation, doing the dishes, finishing an assignment and so on. There's no doubt you'll wind up doing all of these things anyway, you'll just make yourself unhappy thinking about it beforehand.