I just created an index for all my books, quick and easy to things, I even coded my book spines.Seeing a couple of these guys that bring in bookcases full of references when I took the exam in October, I really began to wonder what the pass rate for those guys are. Like you said, there is such a thing as information overload and if you are constantly rummaging through a suitcase full of references, I can't believe that you've got time to actually answer the questions.That is exactly how I would see it. It would be better than having a 3 foot stack of 3-ring binders that will do absolutely nothing for you but waste your time.To be fair, if they propose to supply the reference material, they are then OBLIGATED to provide the material required to answer ALL questions. It could save time in some regards.
On the other side of the argument, I can see the benefit of knowing how to use the REAL WORLD references that you will need in your profession