Is it possible to be such a perfectionist that procrastination results?

Most definitely (and I speak from experience, here). One may spend so much time planning and obsessing over the details of a future plan--any sort of plan, from catering a party to writing a term paper-- that he or she fails to actually start the project with time enough to complete it. The quality of the end result then suffers and the perfectionist feels horrible about not measuring up, causing him or her to begin the planning/obsessing phase of the next project even sooner than the last time. In my case, the inevitable result of this cycle is a nasty migraine and and firm resolve to relax a bit.