Hahahahahaha.....well. I study, and I game?
Yeah, bit too addicted to Dota, WoW, and LoL. And Pokemon white / black will soon be released and it's like ughh. Oh well, if I'm going to endure the torture of this year I might as well have some fun. n_n
But in all serious; I don't play that intense. If I have nothing to do / taking a break then sure I'll play some. But I have enough self control to stop and concentrate on school for a while. With half yearlies incoming, I have already started to study a bit more rather than gaming.
I also find that it's either gaming or via running that I lose much of my stress. So, not only is it good entertainment but it is also good for my mentality. So in answer to your question OP, if you have some amount of self control than gaming shouldn't be an issue at all. Have you goals in mind, and have the ability to make the decision to study rather than play games.