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it'd come in low priority compared with your other classes. And when you're in a very difficult school that requires hours upon hours of study just to keep up with your regular classes, it's quite tempting to put the Putnam study off. If you were in a Putnam class, this would be of equal priority compared with your other classes, so you'd almost be forced to learn the material.
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But aren't Putnam-quality people quite capable of finishing their problem sets in a short amount of time? (compared to others).
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Also, phuriku, do you think that the 18.014 (Calculus with Theory) problem sets are rather easy?
http://ocw.mit.edu/OcwWeb/Mathematic...ents/index.htm