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I think this idea is thrown around a lot because at the ultra-competitive schools it is likely to be your only chance to be in a sorority, so it's best to stick it out to see if you can make it in where you get a bid.
At a non-competitive school, however, this probably wouldn't apply because you have more chances to join a group you think you fit better with. At my school strong groups will habitually COB and hold informal recruitment in the spring because it's campus culture, but they could easily get along without it.
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"Delta Chi is not a weekend or once-a-year affair but a lifelong opportunity and privilege"
- Albert Sullard Barnes
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