I'm asking from the perspective of an undergraduate. In high school, I found that training with competition problems was immensely helpful. I solve problems on the internet and read solutions. That's how I learned proving, even without anyone formally teaching me. I can really feel the effect now. For instance, I can generally figure out things quicker than average students. My first year study was a breeze.

With that in mind, I was wondering how relevant are competition-type problems (Putnam, IMC, etc) to undergraduates?