You can get the same effect by coming early and making sure people notice that you were in ahead of them. When done correctly, you get the "behind the project"-bonus without overtime.
I find that coming in early doesn't produce the same social effect as staying late. I'm still not sure why. Maybe it has something to do with the perception of personal sacrifice? Coming in early doesn't impact your social schedule, while staying late says you're willing to sacrifice your evenings for the company. Coming in early just means you're willing to wake up earlier.