As a matter of fact, I interviewed a girl with a 4.0 yesterday, who admitted she was unable to accept anything less than perfect. It caused her so much stress that she was unable to function in an unpredictable environment.
In business, I'd rather have someone who can fail, learn from their failure and bounce back, than someone who will be unable to make decisions with less-than-complete information.
I think, though, that you may be mixing up the cause and the effect. Did the girl maintain a 4.0 because she has a neurotic need to be perfect and control her environment or did trying to maintain a 4.0 make her unable to operate in a dynamic environment? Clearly, she articulated that she couldn't operate well in a dynamic environment, so you got the information you needed. However, I think it may be wrong to assume that a 4.0 means that everybody will not be able to think with limited information or successfully weather environmental changes. You may have learned that information from her in an interview, but it may take an assessment center to find out if other candidates can meet the challenges of a dyanamic environment.
I do agree that mantaining a 4.0 may mean sacrifices in other areas...at least in my experience. I graduated college Summa Cum Laude with a 3.93 or something like that. I spent a lot of time on school work, more so than many of my classmates. However, I knew that graduate school was a must for what I wanted to do, so I worked hard on maintaining good grades. I really didn't have time for extracirrculars, but a lot of that was because I commuted an hour and a half, one way, to campus. I did make sure that I worked a part-time job, though during the whole time, so I maintained work experience on my resume. However, my experience was different in grad school. I maintained a 4.0 in my Master's program, even taking 15 credits one semester (9 credits is considered full-time at the graduate level), and took many leadership and skill building opportunities outside of general class work that made both my resume and CV blosom.
I guess what I'm getting at with this tangent is that it's really not black and white and having a preconcieved notion about GPA, either way, can lead to bad selection decisions. I've done training on both ends: I've taught wide-eyed college students how to interview and I've instructed future HR professionals on how to validate interviews. For both groups, I emphasized that having a preconcieved notion about the person or situation without being probative of the information presented can be a fatal mistake.