From my own research, my own experience and from conversations with Pat Arnold and a great many other very knowledgable chemists/biologists I have learned that it does not matter whether you take it spreadout or all at once at a stratagic point of time, there will be no difference. Hormones in terms of muscle growth work by systemic buildup so it doesn't matter when you take them. Overall muscle growth usually stems from prolonged systematic levels being high, not just that 4-5 hour peroid, not to mention the increase in estrogen related growth and side effects from metabolites which lasts much longer in your system. Techincally you might get a little benefit but nothing you could probably tell. Its the systemic levels that buildup over weeks that cause growth, not a single dose here and there when you think you need it. People seem to think they can pick and choose when they want more anabolism to occur and it doesn't work that way.

There is a reason D-bol is the breakfast of champions. In the IFBB's early days bodybuilders took it all in the morning for years because over a 4-6 week cycle it didn't make any difference. Again you can't target a specific time for increased anabolism to occur with hormones.