Not to mention that when the status meetings - or, even more significantly, other kinds of meetings (design meetings, planning meetings, etc.) - are spaced that

Not to mention that when the status meetings - or, even more significantly, other kinds of meetings (design meetings, planning meetings, etc.) - are spaced that far apart temporally, every meeting just becomes mostly a rehash of everything forgotten since the last meeting. The "agile" folks have the additional insight that reporting early and often is good.