I agree. My rule of thumb is that you need to shrink a project down into 3 month deliverables. If you aren't going to deliver something that stands alone and is useful in 3 months, then don't bother as the world will likely change before you finish. I realize that some big projects and products take much longer than 3 months start-to-finish but there should always be 100% useful milestones every 3 months.