I occassionally pull an allnighter at work, typically 22 - 26 hours but up to 30 hours. I alternate between brief (15 - 30 minutes) periods of extreme sleepiness, just feeling tired, and feeling incredibly sharp and on my "A" game. I haven't noticed any additional errors during that work, but have noticed my overall productivity goes down.
As a teenager (16) I once drove to my paternal grandmother's in Daytona, Florida (about a twelve hour drive then) after a full day's work. I had 3 - 4 hours of sleep between packing and getting up early, then my parents and maternal grandparents decided to drive down with me for the weekend (I was going for a week) so I had to work that day and then wait for them to get packed before we could leave. I was up maybe 28 hours and well into Florida before I began to hallucinate an alien-looking man with a ball cap turned around backwards running beside the car. I *knew* he wasn't there - but I couldn't stop seeing him. Kind of freaked me out. I had to pull over and get my grandfather to drive the last hour because I was literally running off the road, sleeping with my eyes closed. Had it just been me I would have had to sleep on the side of the road, I was just too tired to safely drive.
In college I often stayed up studying all night before a big test, and I'd just stay up until the next night without getting sleepy at all. I've read you need less sleep as you get older, but I definitely get sleepier now from missing a night. At least during the night; the next day I'm fine and often stay up late the next night as I get kind of wired and it's hard to sleep.
I think though that significant sleep loss combined with the combination of high adrenaline from gaming can be deadly, as I've read several stories from Korea and China about sudden death from prolonged gaming sessions. Probably it's more dangerous because work doesn't cause an adrenaline rush, and more physical activities probably either wear you out and put you to sleep, or burn off more of the adrenaline.