Procrastination always gets a bad rap. I think this is solely due to the fact that people don't look at the positive side of procrastination. Sure, maybe you're not reading those 300 pages in
Atlas Shrugged and maybe you're not doing the set of
differential equations that's due in 1/2 hour, but you are making progress of some sort at something. Case and point, you may be cleaning the
refrigerator -- perhaps this is not helping with your understanding of
existentialist philosophy but your roomates will be really happy when they find out you've thrown away the
egg foo young that's been on the top shelf for the last three months.
You also might be writing email -- it's very imporant to establish communication. After all you won't be any good to anyone anywhere if you don't know how to communicate with others. Also you're perfecting your typing skills. This will help an hour before your term paper which you haven't started yet is due.
Playing nethack may seem like a waste of time, but when it really comes down to it you're learning strategy and enhancing your hand eye coordination (maybe that's a bit of a stretch), but all work and no play makes jack a dull boy.
Watching Blind Date on television too to the untrained observer may seem like a huge, pointless, stupid waste of time, but it helps you glean a deeper understanding of the human condition.
The countless other things you're doing while not doing what your supposed to be doing (i.e. masturbation, smoking, reading the back of the air freshener can)all have their own unique purpose. So next time sometime tells you that you are wasting your precious time -- tell them that maybe they are the ones missing out.