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A "Master Procraster" is a person who has such skill in procrastination that it may be considered a form of art.

Master Procrasters usually do better on assignments when they spend very little time at the last minute completing them than they do on assignments that they spend a lot of time on.

The term "Master Procraster" is in itself an example of the concept - "Procraster" is a shortened (i.e. BS-ed) version of the word "Procrastinator." Even though it's "shorter," it works better than "Master Procrastinator."
Me: "Dude, I totally got an A- on that paper."
Friend: "Holy crap! how much time did you spend on it?"
Me: "Dude, I did it at lunch."
Friend: "Seriously man, you're a Master Procraster."
by Maximillian E. Westenfluss September 10, 2009