I agree with this. That's what I did for my undergraduate 3-year degree here in the UK. It didn't stop me getting into one of the best universities in the entire world to study for my PhD chemical engineering.
Come to think of it, I was much less pressured/stressed than my friends who went to much more prestigious universities, and I definitely had more time to learn @ my own pace and cover certain topics that I found interesting in more depth.
If I had went to one of the higher-end universities, I would of had to stick to a much, much tighter work schedule and balance a much, much higher workload, which I don't think I would have benefited from.
Anyone agree with my thinking?